$SOL

It fell below the 50-day SMA ($218) on December 16, but bulls defended the $210 support on December 17.

However, the bulls failed to hold the price above the 20-day EMA ($225), which again pulled the SOL/USDT pair towards $210. Repeated testing of a support level tends to weaken it. If the $210 support breaks, the pair may dip towards the support line of the descending channel pattern.

This negative view will be invalidated in the short term if the price rises from $210 and rises above the channel resistance line. The pair may then attempt a rally to $248.