In this brief market commentary, The Art of Crypto advises against buying Solana (SOL) due to heightened uncertainty stemming from Robinhood’s delisting of the token and the U.S. SEC’s classification of Solana as a security. The presenter recommends shorting SOL, setting a primary price target around $9.50, with a secondary potential bounce target near $11. The overall stance is cautious and bearish, emphasizing regulatory risk as the primary driver of the recommendation.
Here is the update on Solana. Essentially, because of Robinhood delisting Solana and the SEC stating that Solana is a security, I wouldn't even consider buying this at the moment just because of how much uncertainty is surrounding it. And for now, I would just short this back to zero. Target at the moment is going to be $9.50. Essentially, if it doesn't bounce from here, like easy going to come back to around the $11 to even $9.50 area. So for now, that remains the target. So it's either $11 or $9.50.
