$SOL Approaching Key Support with Potential Rebound Setup

$SOL is trading at $189.87, reflecting a 4.14% decline over the past 24 hours. The asset has tested an intraday low of $187.32 and a high of $198.49, positioning itself near a critical short-term support zone.

Market Structure & Technical Overview (15-Min Chart)

Trend: SOL has experienced a consistent pullback from the $198 region, finding temporary stability around $189.38.

Support Levels: $189 (immediate), followed by $187. A breakdown below $187 could extend the decline toward $182.

Resistance Levels: Initial resistance at $194, with a breakout potentially retesting the $198–$200 range.

Buy Orders: 61.62%

Sell Orders: 38.38%

The current bid-ask distribution indicates stronger buyer presence, suggesting a possible price recovery if momentum shifts in favor of the bulls.

Trading Outlook

Bullish Scenario: A confirmed move above $192 could open the path toward $198–$200.

Bearish Scenario: Sustained trading below $187 may invite further downside toward $182.

Risk Management: Traders should employ dynamic stop-loss strategies to account for intraday volatility.

Conclusion

With buy-side liquidity outweighing sell pressure at present levels, SOL is at a technical crossroads. Holding above immediate support could trigger a rebound, whereas a breakdown risks accelerating bearish momentum.