$SOL plunges 6.13% in market-wide risk-off — the highest-beta major coin feels the correction hardest.
What's Happening:
Price Action: Solana breaks below $135, erasing gains from recent rally attempts.
High Beta: SOL's correlation to risk appetite means it moves faster in both directions.
Network Metrics: Despite price drop, Solana DEX volumes remain strong — usage unaffected.
Memecoin Impact: Solana memecoins (BONK, WIF) down 10%+, adding selling pressure.
Why It Matters:
Solana's high-beta nature is a feature, not a bug. In bull markets, it outperforms; in corrections, it underperforms. The network fundamentals remain strong — transaction counts, DEX volume, and developer activity near all-time highs. Price ≠ value in the short term.
Technical View:
$130 is the critical support. A bounce here could target $145 recovery. A break below opens $120 — the 200-day MA zone. The selloff on elevated volume suggests some capitulation, which often precedes bounces.
🎯 Key Levels:
Support: $130 | Resistance: $145
24h Range: $130.00 - $143.25
💡 "High beta cuts both ways. Solana's volatility is the price of admission to its outsized gains."
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Solana #SOL #CryptoCorrection #HighBeta #CryptoNews
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
