Key Takeaways
- The financial market saw over $2.1 trillion wiped out in the last 24 hours as 1987 Black Monday could be in play.
- Solana’s price crashes to $100 as the price faces more sales panics in the coming days.
- Jim Cramer hints that market uncertainties could lead to inflation, although U.S. job statistics could cushion the effect.
The state of the financial market in the past few weeks has attracted many talking points from traders and experts as news of high levels of inflation and recession following the hike in tariff wars continues to make rounds in the media.
Jim Cramer, a well-established market commentator and host on CNBC, took to his X account to warn about an impending “Black Monday.” The U.S. stock market has seen many price crashes, followed closely by the crypto market, as the Dow Jones Industrial Average tanked by over 22.6% in a single day, raising many fears.
Recent uncertainties in the crypto and stock markets have been attributed to concerns over U.S. President Donald Trump’s recent tariff policies, such as a 10% blanket tariff on imports and placing a high tariff on China and India, at about 34% and 26%, respectively.
Jim Cramer suggests that Donald Trump needs to adjust his approach regarding recent tariff enforcement. Otherwise, the financial market could see more price declines or face market crashes in the coming weeks or months.
Will Jim Cramer’s Prediction Play Out?
Following market wild crashes in the past few days, Jim Cramer has predicted the financial market could see a “Black Monday” crash in 1987 as a result of a historical price crash due to panic selling by traders and investors.
Cramer concluded his speculation based on significant crashes, with the Dow dropping 3,910 points, the S&P 500 falling 5.97%, and the Nasdaq declining 5.8%, wiping out over $6.6 trillion in market value.
Although Jim Cramer’s ideas invite high scepticism among many traders and investors, he pointed out that current market uncertainties in tariff wars have come as evidence of instability. He further noted that strong U.S. job data might act as a buffer against recession, but it is not enough to prevent a market crash.
The financial market, including cryptocurrency, has shown some signs of weakness. In the past weeks, the price of Bitcoin crashed from $88,500 to a region of $75,000. Solana (SOL), one of the best-performing crypto assets, crashed to $95 as it could aim for its key support of $80.
Solana Price Analysis – Why Is Solana Dropping?
Source – 1D SOL Price Chart From TradingView
The price of Solana (SOL) has suffered a decline from $295 to a region of $100 as the price could face a decline in the coming weeks following the price’s violation of its key support of $120.
Solana (SOL) currently trades below its 50-day and 200-day EMAs as the price could trade lower into its key support zone of $80 in the coming days following market uncertainties and speculation by Jim Cramer.
If the price of Solana loses its support of $80, it could trade lower into the sub-$50 $50 zone, which would act as the next key support for the price.
