$SOL Analysis: Market Correction Continues
Price: $228.69 (-4.36%)
• 24h High: $240.85
• 24h Low: $221.80
Key Moving Averages:
• MA(7): $229.10 (immediate resistance)
• MA(25): $233.17
• MA(99): $248.14 (long-term bearish trendline)
Market Sentiment:
Solana (SOL) is facing selling pressure after failing to sustain above $240. A recent test of the $221.80 support suggests buyers are defending lower levels, but the overall trend remains bearish.
Volume Insight:
Declining volume indicates hesitation among buyers, signaling possible further downside unless significant momentum returns.
Levels to Watch:
• Resistance: $233.17 (MA25), $248.14 (MA99)
• Support: $221.80
Outlook:
SOL must break above $233.17 to regain bullish sentiment. A drop below $221.80 may trigger further selling, targeting the $215 range.
📊 Trade cautiously—set tight stop losses!