โ ๏ธ Solana (SOL) Weakens Again โ Break Below $200 Opens Door for Further Decline
Solana is losing steam after failing to hold the crucial $200 level โ a signal that more downside could be coming. ๐
After hitting a local top at $205,
$SOL broke below its bullish trendline and the 100-hour moving average, showing clear weakness in momentum.
Now, traders are watching $192 โ a key support zone. A breakdown here could send Solana toward $188 and even $180, analysts warn.
๐ก Technical snapshot:
๐ธ Price below $198 & 100-hour MA
๐ธ MACD turning bearish
๐ธ RSI below 50 โ sellers regaining control
๐ธ Supports: $192, $188
๐ธ Resistance: $200, $205
If Solana fails to reclaim $200 soon, bears might push it back toward the $166โ$180 zone โ a level that could decide whether this is a healthy correction or the start of a deeper retracement.
Still, long-term bulls are watching for accumulation zones below $190 as Solanaโs ecosystem continues expanding despite short-term volatility.
๐ At press time,
$SOL trades near $197, down ~1.5% on the day.
Do you think
$SOL will bounce back or drop to $180 next? ๐
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