Solana Drops Below $200 — Could More Losses Be Coming?

Solana’s price slipped under the $200 mark, signaling potential trouble ahead if it can’t hold above key support levels. At the moment, SOL is trading below $198 and its 100-hour simple moving average. The pair also broke beneath a rising trend line that had been providing support around $198 on the hourly chart. If the price continues to fall below $192, the decline could deepen.

Solana Retraces Recent Gains

After rebounding from $192, Solana outperformed Bitcoin and Ethereum for a short time, moving into a brief bullish phase above $198. It broke past the $200 level but couldn’t maintain momentum, retreating from a recent high of $205. The climb from the $177 low to $205 high has now slipped under the 23.6% Fibonacci retracement level.

The breakdown below the $198 trend line confirms a loss of near-term strength. Resistance now sits at $198, followed by $200. The main challenge remains around $205—if SOL manages to close above that zone, it could trigger another strong upward move, with the next resistance at $212 and potentially $220.

Further Downside Possible

If Solana fails to reclaim $200, it risks another leg down. The first notable support lies near $192, aligned with the 50% Fibonacci retracement of the $177–$205 move. The next key level is $188; losing that could send SOL toward $180. A close below $180 might open the door to a drop toward $166.

Support levels: $192 and $188

Resistance levels: $200 and $205

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