$SOL Struggles at $200 - Can Bulls Defend the $193 Line?

Solana’s rally has hit a wall - and the $200 resistance zone remains the main battlefield. After a strong +6.3% weekly gain, SOL is now hovering near $194.7, with traders torn between profit-taking and fear of missing out on the next breakout.

The failed push above $200 coincided with a cooling sentiment around Bitwise’s new Solana ETF and growing uncertainty ahead of the US Fed’s rate cut decision. As a result, volatility surged - the 24h range stretched from $191.39 to $203.83, while trading volume jumped +18.49% to $7.53B.

Short-term moving averages (7-day and 20-day SMAs) are flattening — a signal that momentum is cooling. Bulls must hold $193 to keep the structure intact. Losing it could trigger a deeper correction before any rebound attempt.

$SOL next move hinges on macro cues and trader conviction. A clean break above $200 could open the path toward $211–$222, but failure to defend $193 may drag the price back to the $170s.#sol #solana