The recent decision by the Federal Reserve to cut interest rates has caused significant turbulence in the cryptocurrency market.
Solana's price dropped from $263 to $183, breaching the $200 support level. This announcement has also affected Bitcoin and other altcoins, leading to heavy sell-offs.
Despite the downturn, there are indications that Solana may experience a rebound. Technical analysis suggests upward momentum, with a breakout from a descending trendline and a bullish crossover in the MACD indicator. The ability of Solana to recover will depend on market conditions in the coming days. The interplay between macroeconomic factors and technical indicators will be crucial in determining Solana's future trajectory in the cryptocurrency market.