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Recently, the crypto assets market has once again experienced a fluctuation, and Solana (SOL) has become one of the focal points of investor attention. The price of SOL sharply fell from the 225 dollar range in a short period of time, raising concerns in the market.
Currently, SOL is seeking support around $192, attempting to rebound. However, the resistance level around $215 may hinder its upward momentum. Technical analysis shows that SOL/USD has broken a significant bearish trend line on the hourly chart, which may provide some hope for a rebound in the short term.
It is worth noting that the trend of SOL shows a similar falling pattern to other major Crypto Assets, such as Bitcoin and Ethereum. This indicates that the overall market sentiment may be affecting the performance of Solana.
From a technical perspective, SOL is currently above 200 dollars and the 100-hour simple moving average, which may provide some support. However, if the price cannot break through the resistance range of 215 dollars to 220 dollars, a new round of falls may be triggered.
In the recent fall, SOL broke through multiple key support levels, including 212 dollars and 205 dollars. The lowest point even reached 191 dollars, followed by a slight rebound near the 23.6% Fibonacci retracement level.
For investors and traders, closely following whether SOL can hold its ground around the $215 resistance level will be crucial. If it can break through this level, it may attract more buying pressure, pushing the price further up. Conversely, if it fails to break through, it could trigger a new round of selling pressure.
Overall, the short-term trend of Solana remains unclear, and market participants should remain vigilant, closely following price movements and the overall market trend.