Bearish Signals for Solana (SOL/USDT): Will $200 Hold Strong?

Solana ($SOL ) is currently trading at $214.23 (-3.48%), showing signs of bearish pressure despite previous bullish momentum. The token has experienced a decline in price, raising concerns about its potential to maintain recent highs.

Key Insights:

Support Level: Holding at $210.

Resistance Target: $220 (short-term) and $240 (mid-term).

Technical Indicators: MACD shows weakening bullish momentum, and RSI is showing signs of bearish divergence.

Strategy: Watch for price action near $210 for potential buy signals. Monitor overall market sentiment and Solana’s developments for future trends.