$SOL is showing a slight recovery from its low of $206.74, but the downtrend is still intact as it struggles to hold above the 7-day moving average.
The price is hovering just under resistance at $215, with $206 acting as recent support. The MACD histogram is slightly positive, indicating weak bullish momentum.
Bearish Bias: The short-term trend is bearish, as indicated by the decline and failure to maintain higher moving averages.
Key Level to Watch: A break above $215 with volume would signal potential bullish reversal. However, a breakdown below $206 could trigger further selling pressure.
Traders: Monitor the $206-$215 range. A breakout above or below this range could provide clear trade signals.
Support and Resistance Levels:
1. Immediate Support: $206.74 (recent low).
2. Immediate Resistance: $215 (recent high on recovery).
3. Major Resistance: $231.64 (24H high) and $240 (psychological level).
