#SOL# approaching major support with potential recovery setup

$SOL is trading at a price of $189.87, reflecting a decrease of 4.14% over the past 24 hours. The asset has tested a low of $187.32 during the day and a high of $198.49, placing it near a critical support area in the short term.
Market Structure & Technical Outlook ( 15-Minute Chart )
Trend: SOL has experienced a continuous decline from the $198 area, finding temporary stability around $189.38.
Support levels: $189 ( immediate ), followed by $187. A breakdown below $187 could extend the decline towards $182.
Resistance levels: first resistance at $194, with the potential breakout retesting the range of $198–$200.
Buy orders: 61.62%
Sell Orders: 38.38%
The current distribution of bids and asks indicates a stronger presence of buyers, suggesting the possibility of a price recovery if momentum shifts in favor of the bulls.
Trading Predictions
Bullish scenario: A confirmed move above $192 could open the way towards $198–200.
Bearish Scenario: Continued trading below $187 could lead to further declines towards $182.
Risk Management: Traders should use dynamic stop-loss strategies to account for daily fluctuations.
Conclusion
With buying liquidity surpassing selling pressure at current levels, SOL is at a technical crossroads. Holding above immediate support could trigger a recovery, while a breakdown may accelerate the bearish momentum #July PPI Beats Expectations# #ETH ETFs Top $30B# #Gate Alpha Peak Trading Competition# #Gate Releases August Reserves Report#