Solana (SOL) on the Brink: Can Bulls Prevent a Drop Below $180?

Solana (SOL) is under pressure, struggling below key levels and failing to break the critical $205 resistance level. The price has dropped below $192 and is trading below the 100-hourly simple moving average, signaling potential bearish momentum.

SOL is consolidating near $182 after a sharp decline, with resistance forming at $190. To recover, the bulls need to push the price past $192, opening the door for a potential retest of the $200 zone. Beyond this, breaking $212 could pave the way for a rally toward $225.

If SOL fails to reclaim $192, further declines may follow. Immediate support lies at $182, with major support at $180. A decisive move below $180 could send the price toward $175 or even $162.

Indicators Show Caution

MACD: Bearish momentum is gaining strength.
RSI: Hovering below 50, signaling weak buying pressure.

Essentially, Solana faces mounting pressure near $190, with risks of a deeper correction if key supports fail. Bulls must reclaim $192 soon to reignite upward momentum, or SOL could see further declines in the near term.

We are in a Bull market and many investors only want to see an upward momentum, but that only exists in your dreams. We must learn to deal with the market as it is.
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