Rally Stalls: Pullback To Key Support Suggests Correction

As prices backtrack, Solana's big advance may drop around $209.9 support. After positive advances, market dynamics and profit-taking affect its rise. This retreat pauses the positive trend, with traders and investors looking for recovery or further loss.

Solana's ability to maintain the $209.9 support zone will likely dictate its next price move. A defense might revive purchasing activity and lead to a rise, while a violation of this support could cause further declines and affect market mood.

Solana Could Fall To $209.9

After the $223 fall, bears overcame bulls and drove the stock near $209.9 support. The market is selling more as bears try to decrease the price. Bulls' inability to keep prices above $223 casts doubt on their upswing.

Markets are at a key point with $209.9 support in focus. If the price breaks this level, a long correction may follow. However, if the bulls maintain support and recover control, the market may consolidate and surge again.

The bulls and bears are presently fighting over this support zone, and the next price action will likely indicate the asset's direction. Traders should be alert as this test might affect short-term price movement.

The surge may be losing speed, as the RSI shows a minor bearish divergence and buying pressure slows. Bulls may consolidate and ready for a recovery if the market retraces below $209.9.

Assessing Key Price Support and Resistance Zones

Predicting price movement requires assessing important support and resistance zones. Here, $209.9, $194, and $164 support levels are crucial.

If prices plummet, these levels may cushion further dips. If $209.9 fails, $194 and $164 may indicate a deeper downturn.

Once bulls recover control at $209.9, $240 and $260 are important resistance zones. Breaking $240 barrier would likely cause a price spike toward $260. Breaking these hurdles might imply a longer rise and ongoing strength.$SOL $BNB $BTC