$SOL It is trading at $222.58, up 2.11%, after bouncing off the day’s low of $217.00 but struggling to maintain momentum near the $225.17 resistance area. The charts are indicating a shift in sentiment, with sellers regaining control after the recent upside move to $228.95. The RSI at 30.82 suggests that SOL is approaching oversold territory, providing a potential opportunity for buyers to enter if momentum holds.
On the other hand, a break below $220.78 could increase selling pressure, pushing SOL towards the crucial support at $217.00. Conversely, a bounce above $225.17 would signal buyer strength and pave the way for a retest of $228.95. Traders should watch for increased volume and MACD retracement to confirm the trend.