Solana (SOL) has seen a significant decline, dropping over 13% this week and closing below the 200-day EMA support at $196. This downturn has resulted in $38 million in liquidations, primarily from long positions, and a more than 7% drop in Total Value Locked (TVL), raising concerns of a potential further decline. If resistance at $201.85 holds, SOL could retest support at $174.85, while a recovery above $201.8 may lead to a rally towards $230.