Its the right time to buy solana ?
Due to the news of libra it has reached the value which it never going to be it seems like it is the best time to buy it is taking support from the 161$ level you can deploy your 30% here or if your analysis matches with mine the you can depoy all put you stoploss under the support because if it breaks through it can go down to the level of 125$ so manage it accordingly
As of February 20, 2025, SOL is trading at $171.66, reflecting a slight increase of 0.019% from the previous close. The day's range has seen highs of $174.20 and lows of $166.89.
Impact of the $LIBRA Meme Coin Scandal
A notable factor affecting Solana's recent performance is the collapse of the $LIBRA meme coin. Promoted by Argentine President Javier Milei, $LIBRA's downfall led to substantial investor losses and negatively impacted Solana's reputation, given its association with meme coins due to its scalability and transaction speed. This event contributed to a 15% decline in SOL's value, dropping below $170.