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View submission: Solana Price Crashes 28% After Death Cross; Recovery Depends on Bitcoin
tldr; Solana's price has dropped 28%, hitting a multi-month low due to a Death Cross and weak market sentiment. The altcoin's recovery depends heavily on Bitcoin's performance, as Solana has a 0.92 correlation with BTC. If Bitcoin remains weak, Solana risks further declines, especially if it fails to hold the $128 support level. A rebound above $137 could enable a rally toward $155. Long-term holder confidence in Solana is at a 16-month low, signaling increased market distress and potential selling pressure. Market sentiment and Bitcoin's stability are critical for Solana's recovery.
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