SXP (Solar) fluctuates 41.8% in 24 hours: Selling pressure and surge in trading volume lead to technical correction

Brief Overview of Volatility

In the past 24 hours, SXP price surged from a low of $0.0122 to a high of $0.0173 (with some data recording a peak of $0.0183), currently quoted at $0.0145, with an overall amplitude reaching 41.8% and a significant pullback during the day. The 24-hour trading volume is around $21.04 million, which is more active than usual but without significant net capital inflow data.

Brief Analysis of Reasons for the Abnormal Movement

• Selling pressure dominates after technical breakout: The price experienced a technical crash after reaching a high of $0.0183, accompanied by amplified selling pressure.

• Surge in trading volume: During the volatility period, trading activity increased significantly, driving a short-term pump followed by a quick retracement. There were no apparent large on-chain whale transactions or official announcement records.

Market View and Outlook

Community sentiment remains bearish, with traders focusing on the $0.0154 support level. If this is breached, the price may further test $0.0145; some opinions also point out a potential rebound near the $0.0170 demand zone, but overall volatility remains high. Caution is advised regarding potential traps amid low trading activity.