The Solana price faced significant upward pressure as the broader market sentiments turned bearish following Trump’s address on the ongoing war. After losing a key support zone, the SOL is now trapped below the resistance, which may resemble a distribution, not a recovery. However, the buyers have not stepped in with conviction, while the price has not reclaimed any critical levels. As long as the SOL price does not reclaim its lost structure, the downside risk continues to prevail.
Hence, now the question arises whether the current correction is another consolidation or an accumulation.
Solana has lost a major horizontal support zone around $110–$120, a level that previously acted as a strong demand base throughout multiple cycles. Currently, the same level has flipped into resistance, where a retest may turn into selling opportunities hereafter. Historically, these types of structures tend to resolve lower.
The broader structure shows lower highs forming consistently after failure to reclaim key resistance between $110 and $120. Moreover, the recovery was extremely low after a sharp decline due to a weak bounce. Moreover, it is compressing just above a major downside target, highlighting a critical support level at $50.
This is the level where previous consolidation occurred with a strong demand, where risk-reward becomes attractive again. Therefore, the trade set suggests the SOL price may continue to remain range-bound and further initiate a breakdown to the demand zone.
Collectively, Solana is trading below broken structure and remains a wait-for-confirmation market, not a bottoming market. Failure to reclaim $100 to $110 keeps the pressure intact, while a breakdown below the range opens a move toward $60 first, then $50, which is the key accumulation zone. Until then, every bounce is likely a lower high in formation, not the start of a new rally.
Stocks surged Tuesday, with the S&P 500 closing up 2.9% while the Nasdaq rose 3.8% and the Dow gained 1,125 points.
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But this very good day capped off what was a very bad month for U.S. equities. The S&P 500 fell 5.09% in March, and the Nasdaq Composite declined 4.75%.
The U.S.-Israeli war on Iran and the near-total blockade of the Strait of Hormuz, a narrow, Iranian controlled waterway through which a fifth of the world’s crude oil typically transits every day, weighed heavily on markets throughout the month.
Tuesday was also the end of the first quarter of the year, one when the S&P 500 and Nasdaq posted their worst annual starts since 2022, when the Russian invasion of Ukraine rocked markets.
For the first quarter, the S&P 500 dropped 4.6% and the Nasdaq declined 7.1%.
Oil prices, meanwhile, soared over the past month, driving up the cost of fuel and triggering a domino effect of higher prices around the globe.
Brent, the international oil benchmark, posted its largest monthly percentage increase ever, after having risen more than 60%. The price of U.S. West Texas Intermediate crude oil also soared in March, climbing more than 50% in its biggest one-month gain since 2020.
For millions of drivers in the U.S., the increases manifest as higher prices for gas. And here, too, the past month was remarkable. The average price of unleaded gasoline hit $4 per gallon Tuesday, up more than 34% in just four weeks.
But it’s not just gas prices that hit U.S. households this month.
More than half of all adults in the U.S. own stocks, often via their retirement accounts and the broader funds those managed accounts invest in. Most of the time, market moves up and down don’t swing the value of those kinds of diversified retirement accounts.
But March was a different story.
“Stocks have been following the lead of oil prices at an unprecedented rate over the last several weeks, and if the U.S. just walked away from the Middle East with the Strait still blockaded, energy markets would likely remain incredibly supply-constrained, keeping prices high,” analysts at Bespoke Investment Group wrote Tuesday.
“The longer prices are high and supplies are limited, the worse it’s going to be for the global economy and ultimately stock prices,” they added.
The wild market swings of the second Trump administration are in sharp contrast to how Donald Trump said the markets would react if he were elected to a second term in 2024.
“There are many people that are saying that the only reason the Stock Market is high is because I am leading in all of the Polls, and if I don’t win, we will have a CRASH of similar proportions to 1929,” Trump wrote on Truth Social in May 2024 as he campaigned for the presidency.
Shortly after he was re-elected in 2024, Trump was asked whether he believed market indexes were good barometers of his performance in office. “To me … all of it together, it’s very important,” he told CNBC.
But during the first 14 months of his second term, U.S. markets have faced some of the sharpest drawdowns in history.
In February and March of last year, Trump’s sweeping tariff policies roiled the market, pushing the S&P 500 into its seventh-fastest correction of all time. A correction is when a stock or an index declines 10% from its most recent record high.
Just over a year later, the S&P 500 isn’t far from doing it again. As of Tuesday’s closing bell, the index had tumbled 6.7% from its most recent high in January.
As oil prices rise, stocks typically fall given that higher oil prices typically lead to higher prices across a number of industry sectors over the long run.
Already, inflation is on the rise around the world. On Tuesday morning, eurozone inflation came in at 2.5%, from 1.9% the month before, according to the European Central Bank.
On Tuesday, the Nikkei 225 in Japan recorded its worst month since 2008. In Europe, the Stoxx 600 index posted its worst month since 2022.
Two near-corrections in just over a year illustrates just how volatile the administration’s policies have been for markets.
Still, since Trump took office for a second time, the S&P 500 is up 8%, although last year global stocks far outpaced the broad U.S. index.
In 2025, global stocks as measured by the MSCI ACWI ex USA index rose nearly 30%, while U.S. stocks rose just 16%. Global stocks haven’t beaten American equities by that much during the first year of a presidential term since 1993, according to data from Bloomberg.
In recent weeks, Trump has repeatedly touted the Dow’s recent 50,000 milestone as a sign that the markets are doing well in his presidency.
“You know, it’s sort of crazy, I hit 50,000 on the Dow,” Trump said at an investment conference in Florida on Friday. “People said that wouldn’t be possible within four years.”
“And then we hit 7,000 on the S&P,” Trump added. “People said that’s even harder than hitting 50,000 on the Dow.”
As of Tuesday, the Dow had plunged more than 3,600 points since it hit 50,000, a drop of nearly 7.5%.
Investors are running into Intuitive Machines (NASDAQ: LUNR) following its historic launch of “Artemis II” – which successfully sent four astronauts on a lunar flyby on Apr. 1.
The Artemis news came only days after “NASA” selected LUNR for its commercial lunar payload services (CLPS) task order, further adding technical validation to the firm’s infrastructure.
However, with rumours of billionaire Elon Musk’s aerospace company SpaceX going public – it’s reasonable to question whether it’s as far as Intuitive Machines stock goes in 2026.
After all, a SpaceX debut could act as a capital vacuum, potentially draining liquidity from smaller aerospace players as institutional portfolios pivot toward the industry titan.
LUNR stock is well-positioned for SpaceX IPO
For those invested in LUNR shares, here’s the good news – the impact of a SpaceX IPO may be exactly the opposite on Intuitive Machines.
While it seems logical that a giant like SpaceX would “cannibalize” investment, the market is already treating its reported confidential filing as a “rising tide that lifts all boats.”
Instead of stealing capital from Intuitive Machines, the SpaceX news is proving a major “tailwind” that helped LUNR hit a new year-to-date high on Thursday morning.
Why? Simply because of sector re-rating. Note that SpaceX is reportedly targeting a $1.75 trillion valuation; Wall Street is being forced to change how they value smaller players.
Simply put, if the industry leader is worth trillions, market participants must start looking at smaller firms like Intuitive Machines and realize that they might just be significantly undervalued in 2026.
In a way, the SpaceX IPO legitimizes the entire space economy for institutional investors who may have previously stayed on the sidelines.
How to play Intuitive Machines shares at current levels?
Intuitive Machines shares are insulated from the potential cannibalizing effect of a SpaceX listing also because the firm’s business complements, not competes with the Elon Musk company.
These two businesses actually occupy different layers of the space stack.
SpaceX is the railroad – the infrastructure and the launch vehicle, while LUNR is the “last mile” – specializing in lunar landing, lunar data networks, and surface operations; niche services that SpaceX often partners with rather than replaces.
What’s also worth mentioning is that a SpaceX IPO, while massive, is broadly expected to be super exclusive.
Reports suggest that only 30% of it will go to retail, with the bulk snapped up by sizable sovereign wealth funds and “mega-cap” institutions.
For an average investor or a mid-sized fund, therefore, LUNR remains the most accessible “pure-play” for direct exposure to the NASA missions and the lunar economy.
This is why Wall Street remains bullish on Intuitive Machines Inc for the remainder of 2026. The consensus rating on LUNR shares sits at “moderate buy” currently, with the mean price objective of about $26 indicating potential upside of another 8% from here.
