Solana ($SOL ) is showing a notable pullback in its price after recently testing the $198 resistance level. The current price stands at 187.49 USDT (Rs53,194.66), reflecting a -3.75% decline over the past 24 hours. Despite this correction, SOL is still trading above its key short-term support levels, with the 24-hour range set between 183.30 USDT and 198.07 USDT, suggesting increased volatility. The trading volume indicates steady activity, with 4.30M SOL exchanged against 815.26M USDT, showing continued liquidity in the market.
Looking at the moving averages, MA(7) at 186.98 shows that the price is hovering around its short-term trend line, while the MA(25) at 190.04 and MA(99) at 192.46 highlight that SOL is trading just below its medium- and long-term averages. This setup indicates mild bearish pressure in the near term, but the overall structure still leans towards resilience if SOL holds above 183 USDT support. A breakout above 190–192 USDT could revive bullish sentiment, while a drop below 183 USDT may invite further downside pressure.
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