Key points
- Over the past 24 hours SOL has fallen about 1% and is now trading below $220.
- The coin could reclaim the psychological $250 level soon if the broader market recovery continues.
SOL slips below $220
As seen in recent weeks, the cryptocurrency market began the new week in a bearish mood. Bitcoin dipped below the $112,000 mark, while Ether briefly tested support around $4,000.
SOL, the native token of the Solana blockchain, also lost roughly 5% of its value on Monday, dropping toward a support area near $212. It has since bounced slightly and is trading around $219 per coin.
Positive momentum is emerging as the overall crypto market shows signs of recovery. Earlier today Bitcoin reclaimed the $113,000 level, while Ether is eyeing the $4,300 area.
SOL has recovered well alongside those gains and could soon attempt to retake the psychological $250 level.
SOL could rise to $250
The 4-hour SOL/USD chart is currently biased to the downside: Solana has lost about 7% over the past seven days. Technical indicators remain negative, indicating sellers retain control in the short term.
Still, bearish momentum appears to be easing as SOL found support near $212. The RSI sits at 34, below the neutral 50 mark, reflecting the recent downtrend. MACD lines also dropped into bearish territory over the weekend.
If selling pressure returns, SOL may retest Monday’s low around $212 in the coming hours. A sustained bearish run could push the token below $200 — a level not seen since September 1.
However, the broader crypto market appears to be undergoing a corrective move. If this recovery continues, SOL could reclaim nearby resistance and the $250 threshold within the next day or so. To extend gains toward $260 — a level not reached since January — SOL will need continued support from the wider cryptocurrency market.