Breaking News! Solana Faces a Plunge Storm, Market Value Instantly Evaporates by 5 Billion USD! Bullish Whales Strongly Buy the Dip, Is a Reversal Imminent?
Due to the continuous escalation of geopolitical conflicts in the Middle East, Solana plummeted to 141.56 USD today, hitting a new low for the month, with a single-day drop of up to 18%. The market value instantly evaporated over 5 billion USD, leaving investors in panic! However, technical charts reveal important signals: the 4-hour RSI has fallen into the oversold zone (28.6), indicating a potential short-term rebound opportunity. The key support level is set at 140 USD (June double bottom neckline), and if it can hold, this may become a launching pad for a reversal!
Market whales are aggressively buying the dip, with a 237% surge in large transaction volume over the last 24 hours. The final decision on the VanEck SOL ETF application is expected on July 4, with strong expectations for institutional capital inflow. Bullish confidence remains solid, and the ecosystem's TVL is still robust at 8.24 billion USD, indicating that Solana's fundamentals are sound.
However, the risks cannot be ignored: if the situation in the Middle East worsens and SOL breaks below 140 USD, it may trigger a wave of leveraged liquidations, with liquidation pressure concentrated between 135-138 USD, and the bearish assault may intensify.
In terms of operational strategy, short-term traders are advised to closely monitor the 140-160 USD range, while mid to long-term investors should be optimistic about ecosystem growth and favorable policies. Key attention should be paid to the US PPI data on June 15 and the massive CME Bitcoin futures settlement on June 18, as these two events may serve as market barometers!
What will be the fate of Solana? Will it rebound after the steep decline, or will it break key support and face a deep adjustment? Is now the time to enter, or is it a risk? Please stay tuned to market trends, as the showdown is imminent!
