Key takeaways
- SOL has fallen about 1% in the last 24 hours and is now trading below $220.
- The coin could reclaim the psychological $250 level soon if the market recovery continues.
SOL dips below $220
As observed over recent weeks, the cryptocurrency market began the new week in a bearish mood. Bitcoin slipped below $112,000 while Ether briefly tested the $4,000 support level.
SOL, the native token of the Solana blockchain, lost roughly 5% of its value on Monday and dropped to the $212 support area. It has since bounced back somewhat and is trading around $219 per token.
This improvement comes as the broader crypto market shows signs of recovery. Bitcoin reclaimed $113,000 earlier today, and Ether now targets $4,300.
SOL has also staged a notable rebound and could retake the psychological $250 level in the short term if the recovery holds.
SOL could rise to $250
The SOL/USD 4-hour chart remains bearish in the near term, with Solana down about 7% over the past seven days. Technical indicators currently favor sellers.
However, bearish momentum is easing after SOL found support near $212. The RSI sits at 34, below the neutral 50 level, signaling a bearish trend, and the MACD lines dipped into negative territory over the weekend.
If selling pressure resumes, SOL could retest Monday’s low around $212 in the coming hours. A prolonged bearish run could push the token below $200 for the first time since September 1.
That said, the broader crypto market is attempting a correction. If this corrective momentum persists, SOL may challenge the nearby resistance and psychological $250 level within the next few sessions. To reach $260 — a level not seen since January — SOL would likely need sustained support from the wider market.