#Gate.io Has Officially Partnered with Oracle Red Bull Racing# #AI Rebound: Which Tokens to Watch?# #$LAYER Launchpool Airdrop is Live# #I Wanna Get Featured# The price of Solana is dropping to $190 as selling pressure increases.

Solana's price is struggling to stay above the $200 level and its market value currently stands at $94 billion. The recent price movements show that SOL is facing strong resistance around $200 and has dropped to the $190 range in the past few days.
Technical indicators show that sellers are in control, negative sentiments are increasing, and bullish attempts are weakening. As SOL approaches key support levels, the question now is: Will it stabilize and attempt a recovery, or will it continue to decline towards lower price targets?
The Solana chart is currently centered in a downward direction. Prices remain below the cloud, indicating continued downward momentum.
The red cloud indicates that the downtrend is prevailing and the movement towards the cloud is quickly rejected, reinforcing the current trend.
Recently, the Solana price has failed to break the resistance level at $200 and dropped to the $190 range. The EMA lines remain below the trend lines in the long term, reinforcing the broader downward trend. This indicates that the price movement is still downward and sellers are in control of the momentum.
Failure to stay above the $200 level indicates that the buying pressure on SOL is not strong enough to change the market structure in favor of an upward trend and maintains negative expectations.
If this downward trend continues, SOL may test support at $187, an important level where buyers may try to intervene. Losing this support could reinforce the downward trend and open the door to a continuous decline towards $175. However, if SOL manages to hold at the $187 level and stabilize, a potential recovery may come.
Continuous recovery and a break above $200 could allow SOL price to push the next resistance at $209. If the bullish market momentum intensifies further and breaks this level, the next target will be $220, indicating a significant shift in trend dynamics.