The market has seen a brief rebound but most cryptocurrencies are now back in the red zone, including Solana (SOL) which has dropped by 3.29% in the past day. On the hourly chart, SOL's price is below the support of $193.13 and if it closes below that level, the decline is likely to continue towards $185. On a larger time frame, SOL's rate is falling after a bearish closure and if the candle closes near its low, there may be a test of the nearest support at $175.89 by the end of the week. From a midterm perspective, there are currently no signs of a reversal. If the rate breaks below the interim zone of $180, there is a possibility of further downward movement towards $157. At the time of writing, SOL is trading at $192.02.



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