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I have ve been watching Solana (SOL) closely lately, and it feels like we’re at a crucial turning point. SOL recently dropped from near $250 down toward $192, wiping out much of its earlier gains. That kind of drop shows how sensitive the market is right now, and also gives us a chance if support holds.
What’s at Stake / What I’m Watching
There’s strong buzz around a potential spot ETF approval this fall. If that happens, institutional demand could surge, giving SOL a powerful lift.
On the technical side, SOL is sitting just above a critical support zone around $185-$200. If that zone holds, it could act as a springboard for higher prices. But if it breaks, there’s risk of deeper correction.
Resistance seems to be in the range of $210-$215. That’s where SOL needs to break and hold to show strength again.
Many analysts believe SOL could head toward $300 in a rally, especially if things like ETF approval, macro conditions, and demand all align.
My View & Strategy
I lean moderately bullish for now meaning I see upside, but with caution. Here’s how I’m approaching it:
1. If I were you, I’d start with small exposure don’t go big until SOL confirms a break above resistance.
2. Set stop losses near key support levels so if the market turns, you’re protected.
3. Watch the price action: volume spikes, strong bounces, or rejection at resistance will tell you a lot.
4. If SOL breaks above $215 and holds, that’s a green light for more aggressive positions. If it drops below $185-190, be ready for downside.
Advice for Anyone Following SOL
Don’t chase hype blindly just because there are big projections or promises. Use this period to learn, observe, and act with clarity. Keep risk manageable better to be a bit early than too late. And remember: markets reward preparation and discipline more than speculation.
Solana has strong fundamentals, real catalysts ahead, and good potential but it’s not without risk. If we play smart, there’s opportunity. Let’s see where this ride takes us.
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https://www.gate.com/activities/pointprize/?now_period=13&refUid=13129053