Solana's recent price pullback might be a consolidation phase before reaching a new high, according to BeInCrypto. Despite a 0.6% daily decline, Solana has gained 12% over the past week and 16% over the past month. On-chain data indicates increased accumulation by short- and mid-term holders, which is balancing out profit-taking activities. The cryptocurrency's key support level at $224 has historically cushioned price pullbacks, and a close above $245 could set the stage for targets at $279 and potentially $422. However, a drop below $190 would challenge the current bullish outlook.