Solana Dips 📉 – Healthy Pullback or Deeper Correction Ahead? ⚡

Solana surged above $232 and $240 but is now retracing, struggling to hold momentum. Price action slipped under $240 and the 100-hour SMA, with SOL breaking below a key trendline near $242 on the hourly chart.

If the $230 support cracks, the decline could accelerate.

Recent Moves:

SOL bounced strongly from $212, outperforming BTC and ETH.

Bulls pushed price through $240 and $245, reaching a $250 peak.

The rally from $200 → $250 has retraced below the 23.6% Fib level.

Price is back under $240 and the 100-hour SMA.

Upside Outlook:

Resistance is seen at $238, then $240.

A breakout above $245 could open the door to $255, with $262 as the next target.

Downside Risks:

First support near $232.

Key support at $230 (50% Fib of $200–$250 swing).

Below $230 → $224, then possibly under $220.

Indicators:

Hourly MACD: Losing strength, still in positive zone.

Hourly RSI: Below 50, signaling weakening momentum.

🔑 Support: $230, $224

🔑 Resistance: $240, $245

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