๐ Why Is Solana ( $SOL ) Dropping Today? ๐
Solanaโs price is falling due to three big reasons ๐:
๐ฅ 1. Geopolitical Tensions:
Renewed conflict between Israel and Iran triggered a $240B crypto market crash ๐งจ. SOL dropped alongside, with $503M in liquidations overall ๐ฃ.
๐ 2. Technical Breakdown:
SOL couldnโt break resistance near $147โ$155 and failed to reclaim the 50-day SMA at $160. RSI is nearing oversold (36.92), showing weak momentum ๐.
๐ช 3. Bitcoin Dominance Rising:
BTC now holds 64.3% dominance โ the highest since January. Altcoins like SOL are underperforming as money flows into Bitcoin ๐ธ.
โ ๏ธ Conclusion:
SOL may fall further toward $130 unless global tensions ease and technical charts improve. Stay cautious and always DYOR! ๐ง ๐จ
