$SOL suffers correction to $195 after breaking $200, but maintains momentum
Current Price and Technical Structure
Current price: ~$195.94, reflecting a drop from its recent intraday high near $205.92.
It remains within the bullish channel since $180, with key support at $190–$195.
Key Factors
Robust institutional inflow continues, supported by a cup-and-handle pattern pointing to possible increases towards $260.
Volume on DEX grew 140% in July, showing strong activity in the Solana ecosystem.
Technical Level of the Day
Support: $190–$195
Immediate Resistance: $200
Critical Zone: Maintaining current levels would allow for a return of momentum towards $220–$230
Institutional / Macro Outlook
Fundamental momentum and participation from ETFs and staking continue to reinforce the appeal of Solana as a high-yield asset with solid technical backing.
Do you see $SOL recovering to $200 or do you think it will drop further before another rally? Respond below.
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