The article discusses the recent struggles of the cryptocurrency Solana (SOL) as it nears the $200 mark. The price trend shows a bearish failure, leading to a drop near $200. The article states that a second bearish wave could trigger an extended downfall for Solana. Technical signals and candlestick patterns point to a continued decline. However, the derivatives market has seen a minor increase in bullish speculations. The open interest in Solana derivatives has slightly decreased, but the funding rate and long-to-short ratio indicate improved bullish sentiment among traders. The article also highlights the growth in cross-chain activity on the Solana network, indicating increasing confidence and adoption by developers. Despite the bearish price action analysis, the rising bullish fundamental signals suggest a potential long-term recovery. The article concludes by stating that crucial support is seen at $175, which may be tested if the $200 mark is not held, and a breakout rally could lead to an uptrend with a target of $243.50.



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