Solana Tests Key $195 Support After Recent Rally Pullback
Solana (SOL) is currently experiencing a pullback after a recent rally, testing the crucial $195 support zone. This phase is seen as a natural market rhythm, allowing SOL to cool off and potentially setting the stage for sustainable future growth.
- SOL's price is around $203, facing resistance near $210.
- Bulls need to push through $210 for SOL to target $225–$230 in the short term.
- If resistance holds, consolidation between $190 and $210 may occur.
Short-term bearish momentum is evident as SOL's price dips below key moving averages, with current trading around $199.45. Despite this, the decline came on lower trading volume, indicating easing selling pressure.
- A sustained hold above $195 could trigger a rebound towards $210 and beyond.
- A breakdown below $195 may lead to deeper retracement.
Overall, this pullback is viewed as a healthy reset within a larger bullish structure rather than a trend reversal.