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Solana (SOL) Price Analysis

Solana (SOL) is attempting a rebound in the current trading session as buyers look to keep it above the critical $200 level. Since last week, SOL has experienced significant volatility as it struggled to break above the 20-day EMA. Last Monday, SOL fell below the 20-day EMA by nearly 5%, dragging the price to $225. On Tuesday, sellers attempted to push the price lower as the price fell to an intraday low of $215. However, it recovered from this level, gaining nearly 4% to close at $234. On Wednesday, buyers attempted to break above the 20-day EMA but were unsuccessful as sellers pushed the price down by 1.98% to $229. On Thursday, volatility increased significantly as buyers and sellers tried to gain control. Buyers eventually prevailed, and SOL rose nearly 3% to close at $236.

On Friday, as SOL reached an intraday high of $246, buyers attempted to break through the 20-day moving average. However, after reaching this level, they lost momentum and fell back, with SOL only seeing a small rise to $238. As SOL approached resistance, it could only see a small rise on Saturday, rising to $238. On Sunday, SOL fell into losses and saw a small decline. On Monday, bearish sentiment increased significantly, and SOL fell to an intraday low of $203, and then stabilized at $217 after falling nearly 9%. The decline also caused SOL to fall below the key support level of $220. SOL fell slightly in the current trading session as buyers and sellers struggled to establish control. Sellers will try to push the price towards $200, while buyers will try to reclaim $220.