Solana (SOL) Faced a Brutal Selloff Yesterday, Mirroring the Broader Market Collapse Triggered by Escalating U.S. Trade War Fears

The price plummeted over 19% in less than 24 hours, wiping out weeks of gains and sending shockwaves through the crypto market.

After yesterday’s brutal market selloff, Solana (SOL) has become a focal point for investors seeking strong plays amid the chaos. The entire crypto market plummeted as U.S. trade war fears triggered widespread panic selling.

Solana was no exception, dropping over 19% in less than 24 hours. However, despite the negative environment and extreme volatility, long-term price action suggests SOL could recover faster than most assets once the market stabilizes.

Top analyst Jelle shared a technical analysis on X, revealing that Solana has completely retraced the TRUMP meme coin pump, falling as low as $175 before finding support. Jelle remains optimistic about Solana’s future, stating that its structure is still sound.

He highlights that a close above M&W support would confirm another push higher, setting the stage for a strong recovery. According to his analysis, it’s only a matter of time before SOL revisits the $300 level, as long as it holds key structural levels.

With the entire market facing heightened volatility due to macroeconomic uncertainty, this week will be crucial for Solana’s next move. If SOL can reclaim major support levels and break through immediate resistance, a strong recovery could be on the horizon. However, if selling pressure persists, the market could see further downside before a new accumulation phase begins.