#Gate.io Has Officially Partnered with Oracle Red Bull Racing# #Market Dip: What to Buy?# #Weekend Market Analysis#

#Weekend Market Analysis#  
(SOL) Solana under $200: The future of the network is being discussed
Solana struggles below $200, down nearly 13% over the past 30 days. Despite strong momentum in previous months, recent indicators point to a weakening trend dominated by negative signals on the charts.
ADX and price action point to ongoing difficulties as SOL fails to reclaim key resistance levels. However, if buying pressure returns and SOL manages to rise above $209, it could open the path towards $219 or even $244.
Solana indicators are decreasing
The chart shows a downward trend for Solana, with trading at a lower price and key indicators pointing to weak momentum.
The conversion line (blue) below the baseline (brown), indicating weakness in the short term. Additionally, the leading cloud is still red, indicating a continuation of the downtrend.
In order for SOL's price to regain its upward momentum, it must break above $198 resistance and the rise must continue beyond $200.
If SOL fails to reclaim important levels, the negative pressure may continue.
A change in direction from SOL requires breaking both the conversion lines and the base, with an increase in trading volume to confirm the strength of the bulls. Until then, price action remains under the control of the bears.
The average directional index (ADX) for Solana (ADX) is currently at 12.4, compared to 22.3 three days ago. The ADX measures the strength of the trend; values above 25 indicate a strong trend, while values below 20 indicate a weak trend or no trend.
The decrease in ADX indicates that Solana's current downward trend is losing momentum but has not reversed yet.
Reading ADX reaching 12.4 indicates that the current downward trend lacks strong directional pressure. While this may mean that selling pressure is weakening, it also suggests that the SOL price does not have sufficient strength to reverse the meaningful trend.
To reverse the uptrend, the ADX indicator must exceed 20 and price action must show signs of recovery, such as higher highs and higher lows. Until then, SOL remains vulnerable to further declines or price retracement.
Is the price of Solana decreasing?
Solana is struggling to reclaim levels above $205, and when it fails to break this resistance, it continues to fall below $200.
If SOL retests the $187 support and fails to hold, losses may extend towards $175, indicating further weakness.
On the other hand, if Solana's price regains the strong momentum we witnessed in the previous months and enters a clear upward trend, it may push towards the $209 resistance.
Breaking above this level will open the door to a rise towards $219, and if the bulls' strength continues, SOL may revisit $244.