Original source of the text: Niugulu Yao.

After falling 3% again in the past 24 hours, Solana continues to show signs of weakness daily. However, it remains bullish and is still looking for key levels to initiate new Buys. The price is currently retracing.

The decline in late November continues to bring significant daily setbacks to Sol's bulls, although the $200 level has curbed selling since the market suddenly crashed last week.

After a brief rebound, the $240 level poses a threat to the bulls, and prices are falling, although volatility currently does not seem significant due to low supply. If supply increases, substantial losses are expected.

Looking back at the price fluctuations over the past week, Sol seems to be accumulating liquidity for another large-scale sell-off, possibly pulling prices back to the $190 and $180 areas, where buyers are patiently waiting to enter the market in the coming days.

While the ongoing retracement phase offers a discount for long-term reaccumulation, we can expect a significant rebound once the price tests the white upward Trendlines (which has been acting as diagonal support since September).

Falling below this line may signal the end of the bullish trend. However, from a technical perspective, further growth is expected in the future.

The key levels of SOL are worth paying attention to.

As Solana pulls back to the weekly Resistance near $210, the price must break through $200 to test the Trendlines at $194 and $183.4. From there, a rebound can be expected.

However, if the price recovers from the current Trade level, the immediate Resistance to watch during the upward process is $247, followed by $264.4. Breaking through that Resistance could cause the price to surge rapidly to $280 and $300.

Key Resistance: $247, $264.4, $280

Key Support: $210, $194, $183.4

• Spot Price: $217

• Trend: Put

• Volatility: Low