pushingSolana (SOL) has gained nearly 3% in the current session as markets recover from a tough few days that saw prices fall significantly. After posting significant gains last week, SOL lost momentum at $220, with the 50-day simple moving average coming into play as a dynamic resistance level. SOL moved above the 20-day simple moving average and $200 on Thursday, posting a gain of more than 7% to settle at $208. Buyers maintained control on Friday, pushing SOL nearly 5% to $217. However, it lost momentum over the weekend, falling 0.56% on Saturday and 1.52% on Sunday to settle at $213.
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SOL started the current week with a rise of 2.30%, reaching $218. However, it was unable to overcome the 20-day simple moving average as market sentiment shifted on Tuesday. As a result, SOL fell by more than 7% and dropped to $202. Bearish pressure persisted on Wednesday when SOL fell to an intraday low of $188, briefly dipping below the 20-day SMA before recovering and settling at $197, a decrease of 2.30%. Sellers dragged SOL below the 20-day SMA on Thursday, falling by more than 6% to $185. However, during the current session, SOL has risen nearly 3% as it aims to reclaim $200.
