Why Solana ($SOL) Could Be a Smart Trade Right Now
Dropped Significantly, But Showing Support
Solana has seen a notable correction lately, dropping about 17.7% from its March highs and currently trading near the $173 mark. This decline comes after a strong run earlier this year.
Key Support Zone Holding Up
The price recently tested the $162 area, which aligns with the 23.6% Fibonacci retracement level and the 20-day EMA (Exponential Moving Average)—both of which act as important technical support zones.
Bounce Potential if Resilience Holds
If buying momentum picks up, traders can watch for overhead resistance levels at $178 and then $204, signaling possible upside if the support holds strong.
Bottom Line
Solana (SOL) is currently showing technical resilience near a critical support zone. If bullish momentum returns, the setup suggests a bounce toward higher targets—making it a coin worth watching for trade setups.
Not financial advice. Always DYOR (Do Your Own Research).