Price drop indicates bearish pressure: Solana’s price has fallen significantly, now at 218.76 USD after an 8% drop in the past week. It operates within a descending channel with resistance at 230.17 USD and crucial support near 200.60 USD, demanding close monitoring.
Potential decline looms below support level: Should Solana break below the 200.60 USD support, it may plummet to approximately 187 USD. This marks the lowest price since early November, underlining the importance of sustaining support to curb further declines.