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Solana ($SOL ) is exhibiting signs of weakness on the 4-hour chart, despite a recent attempt to break through the $220 resistance level. The current market structure indicates a high probability of price rejection near the weekly high, which could initiate a corrective phase.
If bearish pressure intensifies, $SOL is likely to retrace towards key demand zones in the $198-$194 range. Further downside potential could see the price testing support levels around $190-$187. A more significant downturn might even lead to a retest of the critical $175 support level, which represents a "strong low."
Until bulls can convincingly reclaim and maintain levels above $220, the overall momentum appears to favor the bears. Traders should exercise caution and implement prudent risk management strategies, as volatility could increase in the upcoming trading sessions.