Solana (SOL) has come under pressure after a sharp rejection at the $253 high, with price retreating back toward a critical support zone.
The recent downturn aligns with a broader crypto market pullback, as major assets like Bitcoin (BTC) and Ethereum (ETH) also recorded notable declines.
At the time of writing, SOL trades near $210, reflecting an 11% drop over the past week and an additional 4% decline in the last 24 hours.

The token maintains a market capitalization above $114 billion, supported by strong 24-hour trading activity of $8.6 billion.
Technical Picture: Double Buy Signal Emerges
Despite the selling pressure, technical indicators suggest a possible relief bounce may be forming. Ali Martinez notes that the TD Sequential flashes a rare double buy signal on Solana, and bulls are guarding the $210 support level, which is seen as crucial for the next move.
If the level holds, pressure eases, and momentum could build toward $250. The signal fuels hope, showing strength as buyers step forward. With the indicator pointing up, the market watches closely to see if Solana can defend its base and prepare for a higher test.
The Relative Strength Index (RSI) recently dipped to oversold levels around 30, indicating that the sell-off may have been overextended. Early signs of recovery have emerged, often a precursor to short-term rebounds.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains in bearish territory, with the signal line above the MACD line. However, the shrinking histogram bars highlight slowing downside momentum, suggesting that sellers may be losing steam.

What comes next for SOL?
While bears still control the trend, exhaustion signals are becoming harder to ignore. For a confirmed bullish reversal, Solana would need to see the RSI break back above mid-range levels and the MACD shift into positive territory.
Until then, market participants will closely monitor the $210 level as a key defense zone, with a potential path toward $250 if support holds.