Solana (SOL) Faces Moment of Truth: Will Price Rebound or Fall Below $150?

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Amid the turmoil in the cryptocurrency market, Solana (SOL) recently fell below the key $200 support level and faces an important technical test. The entire crypto market has suffered a massive decline over the past 24 hours, causing Solana to also experience significant value fluctuations. With the market cap falling to $3.35 trillion and trading volume surging 46%, investors are focused on whether Solana can recover or fall to $150.

After price falls below $200, will it rebound or fall?

Solana’s price recently retreated from $220 to $194.81 and is lingering under ongoing bearish pressure. Solana has fallen sharply from its all-time high of $263 over the past few days, and market sentiment has been subdued. The current key support is at $190. If it cannot hold, it may test the important level of $150.

Technical Analysis: Key Support Levels and Rebound Potential

Solana has experienced V-shaped rallies in the past, breaking out of long-term downtrends and showing some buying momentum. If this momentum can be maintained, the targets may be $254, $302, and ultimately challenge $345. However, the current bearish pressure remains and if the price falls below the $190 support, the decline to $150 may accelerate.

Conclusion: Hopes of recovery coexist with risks

Solana is in the midst of a critical support challenge. If buying is strong enough, it could trigger a rebound above $200 and a retest of $220. However, if bearish sentiment takes over, Solana’s price could drop further and hit long-term support at $150. Investors should remain vigilant, pay attention to market trends and technical indicators, and make wise decisions.

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