Watching Solana slip below the $130 mark feels like one of those moments where the market reminds everyone that crypto is still very much an emotional game. Just a few weeks ago, SOL was being talked about with confidence, riding optimism and strong narratives. Today, the mood is clearly different.
The rejection near the $134 Fibonacci level was a turning point. Once that support gave way, selling pressure picked up fast, and SOL found itself drifting lower than most traders expected. Dropping under key moving averages only added fuel to the fear, especially at a time when the broader market is already leaning risk-off. With Bitcoin dominance climbing above 59%, money is clearly flowing toward “safety” rather than high-beta plays like Solana.
What makes this phase uncomfortable is the contradiction in the indicators. On one hand, the RSI screaming oversold suggests exhaustion and a potential bounce. On the other, the MACD still pointing south tells us that bearish momentum hasn’t truly let go yet. That’s the kind of setup where emotions take over—some traders panic, others quietly start watching support levels with patience.
For now, Solana is at a crossroads. If buyers defend these zones, this dip could be remembered as just another shakeout. If not, the market may test investors’ conviction even further.
#solana #CryptoNewss #SolanaStrong #bitcoin #Fibonacci
