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TronWeekly

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Solana Bulls on the Ropes as 32% Crash Looms Beneath Key Trendline

  • Solana (SOL) is experiencing intense pressure as the cryptocurrency market becomes more volatile, resulting in a drop to $96, paralleling Bitcoin's decline.
  • Market indicators such as BTC.D, ARK, and HIPPO are entering overbought zones, indicating a potential market imbalance and anticipating a significant price swing.
  • Upcoming key U.S. events, including FOMC minutes, CPI, and PPI, are expected to have a significant impact on the market, contributing to the growing uncertainty.
  • Solana is currently hovering near a critical support level, and a breakdown could lead to a 32% drop, with potential downside targets as low as $76.

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