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After falling another 3% in the past 24 hours, Solana continues to show signs of daily weakness. However, it remains bullish, but is still looking for a key level to trigger new buy-ins. The price is currently in a pullback.

The decline in late November continues to bring significant daily setbacks to Solana's bulls, although the $200 level has curbed the selloff since the sudden market crash a week ago.

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After a brief rebound, the $240 level poses a threat to the bulls, with the price falling, although the volatility currently does not appear to be high due to the low supply. If the supply increases, massive losses should be expected.

Looking back at the volatile price movements of the past week, Sol seems to be accumulating liquidity for another major selloff, potentially pulling the price back to the $190 and $180 regions, with buyers patiently waiting to enter the market in the coming days.

While the ongoing pullback phase provides a discount for long-term re-accumulation, once the price tests the white uptrend line (which has been acting as diagonal support since September), we can expect a significant rebound.

A break below this line could lead to the end of the bullish trend. But from a technical perspective, further growth is expected in the future.

SOL's key levels are worth watching

As Sol pulls back to around the $210 weekly support level, the price must break above $200 to test the trend line at $194 and $183.4. From there, we can expect a rebound.

But if the price rebounds from the current trading level, the immediate resistance to watch during the uptrend is $247, followed by $264.4. A break above this resistance could see the price quickly surge to $280 and $300.

Key resistance levels: $247, $264.4, $280

Key support levels: $210, $194, $183.4

• Spot price: $217
• Trend: Bearish
• Volatility: Low