Solana Struggles to Reach $200 – Will SOL Price Fall Below $190 or Rally Strongly to $210?

The cryptocurrency market is facing significant upward pressure as bulls have failed to hold the current support levels. As a result, Solana price, which had risen above $200, fell below that level and has been unable to recover the lost ground. The growing selling pressure is expected to push price levels lower in the coming hours and a break below $190 could trigger FUD that could lead to a drop below the critical support level of $188.

 Should you be bearish on SOL price in this scenario? Will the price lose momentum and fall below $180?

Looking at Solana’s daily chart, it is clear that the price has been continuously forming lower highs and lower lows. This shows that bears have enough dominance over the coin and hence may eventually apply pressure frequently. Meanwhile, bulls are struggling to defend the $195 support level, rekindling hopes of a bullish reversal. Solana’s daily chart appears bearish as the technical picture does not support the bullish narrative at the moment. The price continues to trade inside a descending wedge and seems to be about to drop to the support level after facing a rejection at the resistance level. However, one might not expect an extreme squeeze as a bounce to $190 or $188 seems to be pre-set.   The decline in MACD selling pressure confirms the bullish proposition, while a possible bearish crossover activates the bearish target below $190.  

Therefore, Solana price is believed to maintain its downward trend and eventually test the lower target, which is a strong demand area. The coin has triggered a strong rally every time it has tested these levels. Moreover, the buying volume has failed to accumulate and the buyer interest has declined. Therefore, after a minor dip below $190, liquidity could influx which could help the coin to revive a strong rally.  

At the same time, if the price rises above $200 and holds the $210 level, it could offset the bearish impact, which could push the price above the yearly high of $225. At this point, market participants may be bullish on Solana (SOL) prices and anticipate a new ATH in 2025. #比特币价格走势分析