$SOL

It has been squeezed between the moving averages for the past few days, setting up for a possible breakout.

If the price breaks and sustains below the 50-day SMA ($216), it will signal that the bears are trying to take control. The pair could drop to the support line, which is a key level for the bulls to defend.

If the price rebounds off the 50-day SMA strongly, the bulls will again attempt to push the SOL/USDT pair above the resistance line. If they manage to do so, the pair could rally to $248 and eventually to $264, where the bears are expected to mount a strong defense.