Recently, the cryptocurrency market has attracted attention once again. Solana (SOL) has shown signs of recovery after experiencing a significant price fluctuation.

From a technical analysis perspective, SOL has bottomed out around $175, showing strong support. Currently, its trading price has surpassed the $182 mark and has stabilized above the 100-hour simple moving average, which is generally seen as a bullish signal in the short term.

It is worth noting that the SOL/USD trading pair has successfully broken through an important downward trend line on the hourly chart, with the resistance level located around $183. This breakthrough has provided more confidence to the bulls.

However, market participants still need to remain vigilant. The resistance level around $188 will be key to whether SOL can continue to rise. If it can effectively break through this level, we may see the start of a new round of upward momentum.

Looking back at the previous trend, SOL once broke through multiple important support levels including $188, $185, and even $180, briefly entering a short-term bearish zone. However, the low formed at $175 seems to have provided strong support, prompting the price to begin rebounding.

From the perspective of Fibonacci retracement levels, the current price has rebounded above the 23.6% retracement level of the drop from the high of 210 dollars to the low of 175 dollars, which also provides a certain technical basis for potential upward movement.

Nevertheless, investors should remain cautious. The high volatility of the cryptocurrency market means that situations can change at any time. Closely monitoring the performance of the $188 resistance level will be an important indicator for assessing the short-term trend of SOL.