Why is Solana Down Today? Why SOL’s Price Took a 11.7% Dip and JetBolt’s Rise

Solana (SOL) has dropped 11.7%, falling below the crucial $138 support level, with crypto analysts questioning its ability to bounce back. As SOL struggles, a mushrooming shift in whale activity suggests a new and powerful player in town: JetBolt (JBOLT). Amid Solana’s decline, JetBolt’s presale is turning heads, raising over $250,000 and pulling in crypto whales, thanks to its zero-gas technology.

With JetBolt skyrocketing and Solana appearing to lose ground, the question remains—will SOL recover, or is JetBolt taking the spotlight for the foreseeable future? Let’s break down these market shifts.

Solana’s 11.7% price dip: what’s behind the decline?

This week, Solana (SOL) experienced a sharp 11.7% drop and is at $138.91 at the time of writing. This decline marks a notable shift from its previous high of $158 just days earlier. The sudden dip has left traders and crypto analysts reevaluating Solana’s market position.

Technical analysis shows that Solana has broken below the key support level at $138, which crypto analysts pegged as a crucial zone for SOL to hold onto. Failing to maintain this level has raised concerns that its price could soon test $130, with possible further declines to $124.92 based on Fibonacci retracement levels.

The ongoing market uncertainty, driven by broader crypto downturns and global financial instability, is impacting Solana’s price performance. One key indicator, the Chaikin Money Flow (CMF), has turned negative, signaling that selling pressure is outweighing accumulation. At the same time, Solana’s Sharpe ratio has dropped to -1.11, highlighting increased risk for traders holding SOL.

Despite the bullish sentiment in early September, Solana has struggled to regain momentum. Crypto analysts are pointing to Solana’s performance against Bitcoin, noting that SOL continues to underperform in comparison, as more traders seek safe-haven assets during this volatile period. This, combined with Solana’s technical challenges, suggests a more cautious outlook for the coin in the near term.

While Solana battles with its bearish trend, major whales are increasingly turning their focus to JetBolt (JBOLT), a new altcoin that is quickly climbing the market’s ladder of success. JetBolt’s presale has been a massive success, having already sold over $250,000. Its zero-gas technology makes it a compelling option for crypto traders looking for new opportunities and innovative altcoins.

JetBolt’s presale success: why crypto whales are jumping in

In presale news, JetBolt (JBOLT) is conquering the crypto world and climbing to the top thanks to its successful presale, which has thus far sold over $250,000. Launched in August 2024, JetBolt’s groundbreaking features are reeling in whale activity.

One standout feature that has captivated the market is JetBolt’s zero-gas technology, providing an accessible and seamless solution for users tired of hefty transaction fees from traditional blockchain networks. Coupled with its instant transaction finality, this makes JetBolt the perfect go-to option for crypto users who value speed and efficiency.

JetBolt’s presale buyers who are looking to maximize their holdings from day one are also taking advantage of exclusive perks like daily price increases and discounted pricing, which grants up to 25% additional JBOLT tokens on batch purchases, creating a disruptive buzz around the token.

The excitement surrounding JetBolt continues to build and translate to impressive numbers, drawing in whales and technology enthusiasts alike. As the presale continues, market observers are already eyeing JetBolt as the next big superstar in the altcoin space, establishing it as a powerful contender in this ever-competitive landscape.

In Summary: Solana’s Sharp Decline and JetBolt’s Journey to the Top

As Solana (SOL) faces a sharp 11.7% dip, its price remains below crucial support levels, leaving many traders uncertain about its recovery. With SOL underperforming, whale activity is surging on JetBolt (JBOLT). JetBolt’s presale success, already sold over $250,000, is making it the center of attraction in the market. As whales gravitate more towards JetBolt, this innovative new altcoin seems ready to zoom to the top of the crypto market.

Explore more of JetBolt and its exciting presale through the links below:

Website: https://jetbolt.io/

X/Twitter: https://x.com/jetboltofficial

Telegram: https://t.me/jetboltcoin