Right. So Solana has completely thrown a wobbly and crashed through the $200 mark. It’s like when you’ve finally decided to wear control-top tights to a party and then they immediately ladder. A complete and utter catastrophe. It got all the way to $213, got a sharp rejection-probably saw its ex with a newer, shinier blockchain-and has now slumped back to a pathetic $195. Will it pull itself together, or is it about to face-plant further into its pint of Ben & Jerry’s? 🍷
- Solana’s price has done a massive flounce, diving under $200 after being rudely rebuffed at $213. It had just perked up from $175, so the humiliation is total.
- It’s currently trading at a rather sad $195, and all the technical whiz-bangs are pointing to it possibly having a bit more of a cry in the loo.
- The clever money, however, is still wildly long. It’s like they’ve seen Solana’s diary and know it’s just having a wobble before it finds its inner strength and a nice, reliable developer. 🚀
So here we are. At a critical pivot point, which is a terribly serious way of saying Solana is having a proper nervous breakdown on the 4-hour chart. The MACD thingy has done a bearish crossover, which sounds like a deeply unpleasant dance move, and the RSI is sloping downwards in a most depressing fashion. It all signals that a deeper pullback is likely before it can even think about putting on a brave face and trying for the highs again.
Key support levels to watch are $195-$198 (the “I’m fine, really” zone), followed by $190-$192 (the “actually, I’m not fine” zone) and then a full-on descent into the $185 “why does this always happen to me?” despair trench. If, by some miracle, it manages to hold $198, buyers might cheer it up enough to push back toward $210-$213. A break above that could see it racing towards $220+, which is the financial equivalent of finding a boyfriend who doesn’t laugh at your giant granny pants. 💃
The State of Its Nerves
Technically, the short-term outlook is currently a bit bearish, i.e., it’s all a bit grim. HOWEVER. Trading volume has surged over 100% in 24 hours, which basically means everyone is staring at it, waiting to see if it’s going to have a massive cry or get a grip. There’s hope the buyers will step in like a good friend with a large glass of wine and defend the support.
Derivatives data is a bit mixed. There are slightly more short positions than longs, which is like everyone betting you’ll definitely call your ex after three glasses of chardonnay. But the top traders-the Mark Darcys of crypto-are overwhelmingly long. On Binance, it’s nearly 2.7 longs for every short. They’re basically saying, “No, she’s got hidden depths, you know,” and viewing this entire meltdown as a prime buy-the-dip opportunity. V. v. reassuring. 😌
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2025-08-25 14:25