🚗 #GateSquareCommunityChallenge# Round 2 — Which coin is not listed on Gate Launchpad❓
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#巨鲸动向 Solana has recently shown weak performance, sliding from a high of $238 down to around $202, with a drop of about 15%. Currently, SOL is consolidating within the range of $200-205, but it is worth noting that each attempt to rebound in price has failed to break through the key resistance level of $210.
From a technical perspective, Solana's moving average system has formed a bearish arrangement, which usually indicates that downward pressure continues to exist. At the same time, the MACD indicator is still operating within a weak range, suggesting that the downward momentum has not yet been exhausted, and it may continue to face pressure in the short term.
For trading strategies, one might consider shorting near the $210 mark, with lower target support areas between $202 and $195. In the current market environment, investors are advised to remain cautious and closely monitor whether the price can effectively break through the $210 resistance level, which could determine the short-term direction of SOL.
$ETH $SOL