🚀📉 Can Solana Reclaim $200 After Its Recent Dip? – Indicators Suggest… 💹🔍

📊 $SOL Faces Price Pressure Below $200
Solana (SOL) is trading at $197.05, down 8.68% in the past 24 hours but still up 4.31% over the week. Trading volume surged to $6.69 billion, showing continued market interest. SOL's price fluctuated between $193.90 and $215.98 in the last 24 hours, staying 24.9% below its all-time high of $263.21.

📉 Technical Indicators Signal Bearish Momentum
SOL broke below its bullish trendline and Fair Value Gap (FVG), with the 200-day MA at $217.96 acting as resistance. Immediate support lies at $195.72, with a potential drop to $180 if it fails. Increased Moving Average (MA) convergence hints at potential volatility.

📈 Derivatives Market Shows Mixed Sentiment
Derivatives data from Coinglass shows a 94.85% increase in trading volume to $12.62 billion, while Open Interest (OI) fell by 10.68% to $6.03 billion. Long liquidations reached $10.62 million, catching many traders off guard.

🔗 Strong Network Activity Supports Fundamentals
Solana's Total Value Locked (TVL) stands at $8.79 billion, with stablecoin market capitalization at $5.56 billion. The network generated $4.35 million in fees and saw 4.74 million active addresses in the last 24 hours.

📌 What’s Next for SOL?
With $200 acting as a psychological resistance, traders are closely watching whether SOL can reclaim this level or face further declines toward $180. Institutional interest and strong network activity remain key drivers for long-term optimism.