$SOL has rebounded off the uptrend line, indicating that the bulls continue to defend the level aggressively.
Buyers will have to push and maintain the price above the 50-day SMA ($215) to indicate a comeback. Until then, every relief rally is likely to be sold into.
If the price turns down from the 20-day EMA, the risk of a break below the uptrend line increases. There is support at $175, but the level is likely to be broken. The SOL/USDT pair could then plummet to $155. Such a move will signal that the pair may continue oscillating inside the large range between $116 and $260 for a while longer.
This Is Not An Investment Advise
