Critical support at 209 USD: Solana is currently facing bearish pressure below the 209 USD mark, which is crucial for maintaining bullish momentum. Bulls need to act decisively to avoid further declines, highlighting the need for urgent market engagement.
Market indicators signal caution: Despite staying above the 100-day Simple Moving Average, Solana shows signs of fragility under significant selling pressure. The 1-day Relative Strength Index remains below 50%, indicating an ongoing bearish trend that could further affect Solana’s price.
Potential price movements: If Solana holds above 209 USD, it could lead to attempts at resistance around 240 USD and 260 USD. However, a drop below this level might push prices down towards 194 USD, heightening concerns for traders.