The cryptocurrency Solana (SOL) is currently holding steady at a crucial support level of $209, despite a recent bearish trend. This has led to speculation that a rebound may be imminent. The reaction at this support level has caught the attention of market participants, with many expecting a rally towards the next resistance level at $240. However, if the rebound fails, there is a risk of a deeper correction. The Relative Strength Index (RSI) has dipped into the oversold zone, indicating increased selling pressure, but is attempting to rise out of this zone, suggesting a potential shift in momentum. Maintaining a position above the 1-day 100-day Simple Moving Average (SMA) indicates a broader bullish trajectory for Solana.



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