Solana (SOL) has experienced a significant price decline in recent days, currently trading below key moving averages and hovering near the $184 support level. Analysts suggest that continued selling pressure could trigger a further drop towards the $172 liquidity zone. 20-hour moving average, for instance, shows a bearish trend and is pointing to potential weakness in the market. This decline has also been reflected in an overall weakening of the RSI, which sits just above oversold levels. The MACD indicators remain negative with the main line below the signal line and the histogram trending lower, further confirming the current short-term downtrend. 20-hour moving average, for instance, shows a bearish trend and is pointing to potential weakness in the market. This decline has also been reflected in an overall weakening of the RSI, which sits just above oversold levels. The MACD indicators remain negative with the main line below the signal line and the histogram trending lower, further confirming the current short-term downtrend. However, $184 remains a crucial support level for SOL as traders anticipate potential support if it holds strong. The next resistance level sits around $192 and has witnessed price hesitation in the past. 172 remains a key zone where buyers are anticipated to step in if prices dip into this area, creating buying pressure. If there’s no reaction at the $172 level, the price could continue towards weaker support levels like $160 or $150. The broader trend remains intact, with Solana showing higher lows since spring and remaining within a rising price channel despite the recent pullback. Looking ahead, if SOL can maintain current resistance levels, traders are targeting $200 as its first target. Beyond that, the 0.618 Fibonacci level at $218.67 awaits. The long-term target remains near $295, close to the high from January.