Solana Price Alert -Is a Bigger Correction Coming?
Solana Price Alert– Solana (SOL) has recently faced a dramatic decline, suffering a 15.56% drop in a single day. This was in response to the market-wide sell-off triggered by tariff concerns, sending SOL below the critical $150 support level. Among large-cap cryptocurrencies, Solana has been at the forefront of the downturn, with a nearly 20% decline over the past week. On-chain transfer volumes also saw a staggering drop, plunging 99% from its peak of $2 billion in November to just $14.5 million.
The key question for Solana is whether it can defend these crucial support levels. After losing all its post-election gains, Solana now finds itself at a critical inflection point. Crypto analyst Ali Martinez noted the drop in Solana’s volume metrics, which has further pressured the price structure. At the time of writing, SOL is trading at $139.70, and for a recovery to take shape, the asset needs to successfully flip this level into support. Without that, long-term holders may decide to sell, especially since Solana has already wiped out nearly $40 billion in market cap this month.
What’s Next for Solana: Will Buyers Step In?
Solana has faced continuous pullbacks in previous cycles, but this time could be different. On-chain volume metrics are showing a surge to $5.28 billion, which may signal a potential shift. However, confirmation is needed to confirm a sustained trend reversal. If the buying momentum falters, Solana could face more profit-taking instead of a long-term accumulation phase.
For Solana to reverse its fortunes, strong accumulation is key. A significant supply shock is needed to absorb the excess liquidity in the market, and its volume metrics will be a crucial indicator to determine the next move in the coming days.
In short, Solana’s price and volume movements in the next few days will be critical in determining whether the cryptocurrency can maintain its position or face a deeper correction. Investors will need to watch for a clear trend reversal before making any significant moves.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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