SOL/USD struggles after rejection near $245 resistance
Solana (SOL) has entered a decisive phase, with price action pulling back from the $245 zone after a strong rally earlier this month. The token is currently trading near $210, where buyers are attempting to defend a critical support level that could dictate short-term momentum.
The daily chart shows that $210–$200 acts as immediate support, a zone where buyers previously stepped in during August. Holding this level could allow Solana to consolidate before making another attempt higher. If broken, the next strong support sits near $165–$155, followed by a broader demand area around $125–$120.
On the upside, resistance remains strong at $245, the level that capped last week’s rally. Beyond this, a break above $260 could expose the higher supply zone around $280–$290, where sellers previously dominated.
BITX Market analysts highlight the importance of the current structure. “This area between $210 and $200 is crucial. If Solana holds, it can build a base for another test of $245,” adding that failure to hold could “trigger a deeper retracement into the mid-$100s.”
Volume data also suggests declining momentum on the latest move down, which could favor consolidation over a sharp sell-off. However, experts caution that a daily close below $200 would shift sentiment bearish, opening the door for extended downside.
Solana remains in a critical decision zone. Bulls must protect the $210 region to keep upward momentum intact, while bears will look for confirmation below $200 to regain control. With major supply overhead and strong demand beneath, traders should watch these key levels closely as volatility picks up.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.