Solana Retests Critical Support Level Amid Market Pullback

As the month ends, the crypto market is experiencing a pullback. Solana (SOL) is testing a critical support level that could impact its short-term trajectory.

Solana Hits Multi-Week Low

Most cryptocurrencies are declining, with Bitcoin and Ethereum losing key levels. Solana recorded a 6% drop today, reaching a 22-day low of $156 after falling from its $164-$180 range.

SOL previously hit a three-month high of $187 but has struggled to reclaim the $180 resistance.
A move above this barrier could target the $200 mark.
Trader Crypto Bullet forecasts underperformance for SOL, noting a breakdown against ETH and suggesting ETH will outperform SOL.

All Eyes On SOL’s Weekly Close

Analyst Rekt Capital emphasizes the importance of maintaining stability within the current price range for a potential breakout.

SOL must continue to demonstrate price stability around the resistance zone to aim for $200+ levels.
A failure to hold this area could lead to a retrace between $120-$135.

Currently, Solana trades at $159, reflecting an 11.6% decline over the week.