Solana on the Edge: Will Losing $120 Trigger a Drop to $90?

Solana’s price is teetering on the edge of a significant downturn as the broader crypto market experiences intensified selling pressure. The latest tariff announcement from Donald Trump has further fueled bearish sentiment across financial markets, impacting assets like Solana (SOL). 

As this altcoin approaches a critical support level, the risk of its price slipping from the three-digit range to double digits grows increasingly likely. But what’s driving this potential crash? Let’s dive deeper.

15% Decline in a Day – Will the Freefall Continue?

Solana (SOL) is facing intense selling pressure, plunging 11.84% in a single day and extending its downtrend to a staggering 61% drop from its all-time high just two months ago. Despite being one of the top cryptocurrencies, Solana has struggled due to fading meme coin hype and broader market uncertainties.

The situation worsened after Donald Trump’s recent tariff announcements, which rattled financial markets and deepened bearish sentiment among investors. As a result, SOL has now hit a one-month low of $114.12.

Interestingly, trading volume has skyrocketed by 86.6% to $6.41 billion, signalling heightened investor activity as traders anticipate Solana’s next move. However, with SOL dipping below the critical $120 support level, concerns are mounting over whether further declines are on the horizon.

Solana Drops Below $120 Support – Is a Crash to $90 Inevitable?

Bearish sentiment continues to grip Solana (SOL) holders, fueling an extended downtrend as the token slips below the critical $120 support level. This breakdown has sparked fears of a deeper decline, with crypto analyst XO warning that a drop to $90 could be on the horizon.

Several other analysts share a similar outlook, with many predicting a potential crash below $90. The formation of a bearish triangle on Solana’s price chart suggests a continuation of this downward momentum, possibly pushing SOL as low as $58 if the pattern plays out.

However, not all hope is lost. A rebound could occur if Solana reclaims the $118 support level, which experts view as a key accumulation zone. If bullish momentum takes hold, SOL could see long-term growth, with some projections pointing to a potential surge toward $1,000.

That said, such an optimistic scenario largely depends on major catalysts, such as the SEC approving a Solana ETF or the U.S. government revealing Solana holdings, which could drive renewed investor confidence.

Is the Price Crash on the Horizon?

While the broader crypto market, including Bitcoin, is experiencing a downturn, concerns surrounding Solana (SOL) are even more pronounced. Investor interest in SOL has been waning, and prevailing bearish sentiment has led analysts to predict a potential drop to as low as $58.

Experts suggest that investors keep a close eye on Solana’s price movements and broader macroeconomic factors. Key support levels will play a crucial role in determining SOL’s next move, especially as bearish pressure continues to dominate the market.