Solana Retraces TRUMP Meme Pump Gains – But Technicals Suggest A $300 Run
Sola faced cruel selling yesterday, reflecting a wider market collapse caused by the fear of the US trade war. The price plunged more than 19 % in less than 24 hours, consumed several weeks of income, and issued a shock wave through the cryptocurrency market. Now that investors are doing more volatility, because the decline can expand to the future.
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Top analyst Jelle shared a price list on X, emphasizing that Solana completely reviewed the Trump model because of the coin pump. The rapidly decreased SOL decreased by as high as $ 175, which marked one of the steepest single -day corrections in recent months. Now, this level is a key area for bulls, because further weaknesses may expose Sorana to a deeper loss.
As the market emotions have changed sharply in just a few hours from viewing to fear, traders want to know whether Sorana can recover Or if the other leg is imminent. The next day is about to be crucial, because SOL tries to stabilize and recover key support levels to prevent further shortcomings.
The pressure on Solana, but remains strong
After selling yesterday’s brutal market, SOL (SOL) has become the focus of investors who seeks strong performance in chaos. As the fear of the US trade war caused a wide range of panic sales, the entire cryptocurrency market plummeted.
Solana is no exception and has dropped by more than 19 % within less than 24 hours. However, despite the negative environment and extreme volatility, long -term price actions are still intact, which indicates that once the market is stable, Solana’s recovery speed is faster than most assets.
Top analyst Jelle shared Technical analysis on XIt reveals that Solana has completely traced Trump models due to coin pumps, and before seeking support, it fell $ 175. Jelle has remained optimistic about Solana’s future and pointed out that its structure is still reasonable.
He emphasized that the approximation of M & W’s support will confirm that another driving force will be higher and laid the foundation for strong recovery. According to his analysis, as long as SOL re -examines the level of $ 300, as long as it has a key structural level, this is only a matter of time.
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Due to the uncertainty of the macroeconomic, the entire market is facing the growth of growth, this week is essential to Solana’s next move. If SOL can recover the main support level and break through immediately, a strong recovery may occur. However, if the sales pressure continues, the market may be further disadvantaged before the new accumulation stage starts.
SOL remains above the key level
Sorana’s low yield at a low of 175 US dollars has increased slightly, soaring by more than 13 % in the past few hours, the price is 199 US dollars. Despite a recent rebound, the market sentiment is still scary, and the sales pressure throughout the week may continue. Bulls must quickly recover the key level to restore momentum and prevent further shortcomings.
If Sol wants to confirm the reversal of the bullish, it must be pushed up at $ 220 in the next few days. Prior to the recent collapse, this level was a strong support, and the flipping back support will indicate the strength. However, in view of the current market uncertainty, recovery may take time, and SOL may see more fluctuation prices before taking the next move.
The key level worthy of attention is 189 US dollars, and the current 200 -day index moving average (EMA) is located. If SOL loses this level, it can be deepened, and it may lead to re -testing lower support areas. Bulls need to keep this mark to prevent a wider decline.
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At present, everyone’s attention is concerned about SOL’s ability to recover key resistance levels. If the price stable and demand rises, Solana may get a strong rebound. However, further weaknesses can expand the correction stage.
Featured images from Dall-E, chart of tradingView
