$SOL

SOL Market Analysis: The battle between resistance and support is about to begin!

Brothers, SOL recently fell back from the strong resistance level of $246, and has also broken below the 20-day moving average ($232), the short-term bulls are struggling a bit! Let's take a look at the key battleground ahead.

Short-term trend: Sideways range forming

The 20-day moving average is flattening, and the RSI is close to the midpoint, indicating that neither bulls nor bears currently have a clear advantage, and the market may fluctuate between $210 and $246.

Key support: $210

If the price retraces to $210 and rebounds, it indicates that buying pressure is starting to strengthen, which may push SOL to challenge $246 again.

Strong resistance: $246 to $264

To break out of the sideways movement, the bulls need to strongly break through this area to have a chance to regain control of the market rhythm.

Risk warning: Possibility of breaking below $210

If the bears take the opportunity to exert pressure, and SOL breaks below and closes under $210, it will indicate a bearish market sentiment, and the price may further decline, putting the bulls in a dangerous position.

SOL is still oscillating between $210 and $246 in the short term, patiently waiting for clear support or breakout signals.