Sol lost roughly 20% of its value in a week and rolled back to a month low. However, it has recovered slightly from the dip but the bears are still showing commitment as they mount pressure.

During yesterday’s crash, which saw many altcoins through their biggest drops in the past week, Sol tested the critical $175.9 support again and quickly climbed back following a sudden rejection.

That rejection revealed a strong interception from the bulls’ side as they pushed the price well above $200. But the bears have reiterated actions today and they are now mounting pressure again. An increase in the daily supply could cause more wrecks in the market.

Meanwhile, yesterday’s interception at the mentioned low has raised some interest among the bulls against a further dip. If they become formidable in their defence, we may see a further recovery. This should set a new bullish tone in the market.

However, if the bears manage to pull through the critical support, the price may dip into the $160 – $150 for new support. After that, we can expect a fresh increase on the daily scale. Failure to pick up from this mentioned range may result in more sell-offs until it finds a solid ground. Currently, Sol might appear weak daily, but the trend remains bullish in the mid-term.

SOL’s Key Level To Watch

While the bears are trying to pull the price below $202, they may face minor support at $190 before reclaiming the $175.9 support – where a major crackdown lies.

If Sol’s price increases above $223, the potential resistance level for a buy would be $244.7. There’s also resistance at $272. A push above it could fuel more gains to $295.8 before breaking out to a new high.

Key Resistance Levels: $223, $244.7, $272

Key Support Levels: $202, $190, $175.9

• Spot Price: $209.6
• Trend: Bullish
• Volatility: Low

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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