Solana experienced an 11% price drop recently, falling below 200 USD, primarily due to bearish momentum reflected through strong selling pressure and a ‘death cross’ signal. Despite the downtrend, observed whale activity indicates renewed interest, with large holders increasing from 5,025 to 5,098 addresses over five days, potentially hinting at a price rebound if buying momentum improves.

Technical indicators emphasize current bearish control with further decline likely, as the ADX shows a strengthening trend. However, renewed whale activity shows potential confidence, which could result in a price reversal. A rise in buying momentum might see Solana challenge the 197 USD resistance level and potentially recover towards 211 USD if successful.