Marketwide deleveraging and profit-taking triggered a broad crypto sell-off that hit Solana particularly hard this week — SOL was among the worst performers, losing double-digit percentages as traders exited leveraged longs. Barron's+1
Open interest and leverage on Solana reached very high levels, which increased the risk of a long-squeeze once profit-taking began. Major holders have been moving SOL to exchanges, adding selling pressure. Cointelegraph+1
Short-term technical weakness in top crypto markets and ETF/flow outflows weakened risk appetite overall, making high-beta assets like SOL more vulnerable. rice retraced back into a clear resistance/FVG and Fibonacci confluence area near $197–$199 (our marked zone). That level coincides with visible volume clusters and prior support turned resistance, which typically act as rejection zones in a bearish trend. (See chart: price returned to zone, then showed rejection.) crypto.news+1
The broader trend had already shown signs of exhaustion after the spike: moving averages and momentum indicators pointed to a corrective bounce rather than the start of a fresh bullish leg. A return to the resistance gave a high-probability short entry with a favorable risk/reward. YouHodler+1
$sell pepePEPE is a meme-based cryptocurrency that relies heavily on hype and speculation rather than strong utility or long-term fundamentals. Such projects often experience sudden surges followed by sharp declines as community attention fades. With market sentiment weakening and major cryptocurrencies showing instability, the risk of downside pressure on PEPE is increasing.
The current setup on PEPE suggests a clear opportunity for a SELL position, supported by both fundamental and technical factors.
Fundamental Perspective
PEPE is a meme-based cryptocurrency that relies heavily on hype and speculation rather than strong utility or long-term fundamentals. Such projects often experience sudden surges followed by sharp declines as community attention fades. With market sentiment weakening and major cryptocurrencies showing instability, the risk of downside pressure on PEPE is increasing.
Technical Analysis
On the chart, PEPE has retraced back into a strong resistance zone around 0.00000931. This area coincides with Fibonacci retracement levels and visible volume clusters, signaling potential exhaustion of the recent upward move. Additionally, the broader trend remains bearish, and the bounce appears to be more of a corrective move rather than the start of a new rally.