Ah, Solana! That enigmatic creature of the crypto world, which, like a drunken Cossack, stumbled and fell to a three-week low of $175 over the weekend. A 27% plunge, no less! The market, in its infinite wisdom, decided to mimic a collapsing barn, all thanks to the grand tariff announcements from the land of the free and the home of the brave. Canada, Mexico, and China, those eternal trading partners, responded in kind, and thus began the great sell-off of 2025.
Bitcoin, that old stalwart, plummeted to $91,200, while Ethereum, ever the drama queen, dropped to $2,100. The market, in its usual flair for exaggeration, registered $2.3 billion in liquidations—though Bybit’s CEO, with a flair for the dramatic, suggested it could be as high as $10 billion. Solana, poor thing, lost its $200 support and tumbled below $180, leaving analysts to mutter darkly about a potential fall to $138. Crypto trader Bluntz, ever the pessimist, declared that losing the $220 support was “really bad,” as if the altcoin had just been caught stealing from the church collection plate.
But lo and behold! Solana, like a phoenix rising from the ashes (or perhaps a drunkard stumbling out of a tavern), retested the $170-180 support zone and bounced back, attempting to break the $200 resistance. Crypto analyst Jelle, ever the optimist, noted that Solana “retraced the TRUMP memecoin pump,” which had previously propelled it to an all-time high of $295. Jelle, with the confidence of a man who has never lost a bet, declared that SOL’s structure “remained sound” and that its chart looked “very solid.”
Amid the chaos, Solana stood tall, holding its key horizontal levels like a soldier guarding a fortress. Martinez, ever the technical wizard, pointed out that the TD Sequential indicator had flashed a buy signal on Solana’s daily chart. Miles Deutscher, with the enthusiasm of a man who has just discovered free vodka, highlighted that BTC and SOL’s prices were now higher than pre-liquidations. Solana, alongside BTC and XRP, was one of the few top 10 cryptocurrencies in the green. Jelle, ever the dreamer, suggested that if SOL closed above the $200-210 support, it could retest $240 and make “another push for $300.”
As of this writing, Solana is trading at $211, a 7.5% increase in the daily timeframe. Will it rise like a hero or fall like a fool? Only time will tell. 🚀📉
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2025-02-04 11:12