Solana (Sol) recently lost its key support area in the middle of the launch and the controversial tokens for Balance (balance). The cryptocurrency has dropped by more than 12% in the last three days and some analysts suggest that it risks a deeper correction at monthly stockings.
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Balance Token plants Solana’s party
The Solana network has been talked about the city of this cycle due to the Even Frenzy, because it is the reference chain for these projects. Cryptocurrency was also one of the main tokens in the past year, surpassing most of the altcoins in 2024.
Since the beginning of 2025, Sol has shown force despite repeated retraces on the market, holding above the key levels, rebounding quickly and even hitting its last top of all time (ATH) of $ 295 there has almost a month.
However, the most recent controversial launch of a token -based token sent the soil price in a three -day decline.
Friday, the Viva La Libertad project was announced alongside the balanced token, receiving the approval of the Argentinian president Javier Milei.
The project destined “Encourage the economic growth of Argentina by funding small businesses and startups” and increased to a market capitalization of $ 4.5 billion following the post of the president.
However, he crushed 94% after the team’s portfolios and initiates sold more than $ 100 million in the token’s peak balance, leading to the distancing of the project president Milei.
After the balance crash, the feeling of the market has changed, with certain members of the community expressing The exhaustion of the numerous scams even was launched in the Solana network during the cycle.
As a result, the soil price dropped to $ 190 and hovered in this range until Sunday. As more details on the balance project came out, Solana dropped by an additional 7.8% to the support area of $ 180, sending the price to its lowest enhancement in two weeks.
Solana loses $ 180
Monday morning, the cryptocurrency briefly recovered at the level of $ 187 but was rejected from the line of resistance to the downward trend of almost a month, as trader Crypto Rand. For the investor, there is a “key pressure on the main support of $ 180”.
Crypto Ali Martinez analyst highlighted This solana remained in its key range. The crucial area of $ 180 to $ 190 holds the post-electoral rupture level and was a significant rebound beach for cryptocurrency in the last four months.
However, Sol fell below its key support area after President Milei retweeted an article on the balanced token on Monday afternoon. The X Post explained the steps to invest in the cryptocurrency, briefly sending Balance 60% before tracing 42% after Milei defeated his retweet.
Since then, Solana has planeed Between the price range of $ 175 and $ 178, a retrace of 6.6 in the daily time.
Is the floor season over?
In the midst of the action of soil prices, some analysts highlighted his table against Ethereum (ETH). According to Daan Crypto Trades, Sol / ETH will be “an interesting graphic to watch for the coming weeks”.
The merchant explained that Sol Interest culminated a month ago when the Trump Even was launched. The series of “scams, carpets and claws” during the weak market destroyed “the chain / meme ecosystem”, which had fueled the “strong tun-up” by Solana.
Daan maintains that “the capital [is] Floor rotation in Eth for the first time for some time “, which could see the pair of soil trading / ETH resets the level from 2021 ATH to 0.058. This level was “quite influential this cycle” and was a key bounce point in the fourth quarter of 2024.
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Meanwhile, Michael Du Poppe considered The soil / ETH assessment exceeded a “massive wick created a massive down divergence and the evaluations began to decrease”. Consequently, “the ETH season begins during the floor season” and the rotation of Solana towards Ethereum began.
Analysts compared the frenzy of the same to the overvoltage of 2020, concluding that the soil “samecoin fiesta was a monetary printer in an inner circle for a small group, and everyone knows it now.”
Star image of Unsplash.com, tradingView.com graphic