Solana (SOL) is currently trading at $228 and is facing selling pressure after being rejected at the $240 resistance level. The cryptocurrency has broken below the 21-day simple moving average (SMA), indicating a bearish trend.

Analysts predict a potential decline to the $185 mark, which aligns with the 2.0 Fibonacci extension level. Solana is currently caught between the 21-day and 50-day SMAs, with the 50-day SMA serving as a support level. The market shows indecisive candlesticks, suggesting a continued downward movement.

Key supply zones are identified at $200, $220, and $240, while demand zones are noted at $120, $100, and $80. The outlook remains cautious as the altcoin approaches critical support levels.