Bears have pulled Solana (SOL) below the 20-day EMA ($230), indicating that the bulls are losing their advantage.
SOL/USDT Daily Chart | Source: TradingView
There is a slight support level at $222, but if this level is broken, the SOL/USDT pair could drop to the breakout level of $210. This is an important level that the bulls need to defend if they want to maintain a bullish sentiment. If the price bounces off $210, it will indicate that this level is acting as a new support floor.
On the upside, if the price closes above $236, it could trigger a rally to $265. Bears are expected to build a strong defense at $265, but if the bulls gain the upper hand, the pair could rise to $304.