Solana (SOL) Price Drops Below Key Support Will $74 or $50 Hold Next
- Solana (SOL) is down 1.55% in the past 24 hours, trading at $106.34, and has fallen 15.20% over the past week.
- Trading volume dropped 16.72% in 24 hours, settling at $5.79 billion, reflecting cooling investor activity.
- Technical support is found at $74 and $50, according to Fibonacci retracement levels drawn from its yearly peak.
Solanas performance on the market remains cautious as the coin is currently priced at $106.34, down 1.55%, over the last 24 hours. In the last 7 days, the coin has lost 15.20%, noting increasing bearish pressure in the midst of the overall volatility in the space.
Trading volume has also receded significantly, with a 16.72% fall in daily trading activity to $5.79 billion, pointing to declining investor participation.
This is not the first time Solana has not been able to hold on above key technical levels, dipping below $107.5, the 50% Fibonacci retracement level of its annual high of close to $200.
With sentiment in decline and with macro forces dictating digital asset markets, the present path of SOL might be reflecting a more profound retreat should bullish momentum not reassert.
Solana Corrects 50%, Now Trading Near $100
A technical analysis chart by popular crypto analyst Ali uses Fibonacci retracement levels on Solanas price action for the past year. From an all-time low in late 2024 at $15, the price moved up to as high as $200 in late 2025 due to fund inflow, which drove growth by 1200%. That wave has now faded, with the price losing 50% to trade near $100.
Between $15 in early 2024 and as high as $200 in early 2025, SOL rose an astonishing 1200%, fueled mostly on speculative fund inflow. But this is now in reversal mode, with the price having dipped 50% down to trade at around $100.
These retracement levels at 61.8% ($74) and 78.6% (~$50) are now key levels that should be monitored, as these price levels can act as psychological bottoms, having in the past attracted buying interest.
If SOL continues to depreciate, these levels can become the market consolidations lower boundaries. However, as some experts warn, Fibonacci levels are based on crowd sentiment rather than inherent predictive power, so they must be interpreted cautiously.
Key Factors Influencing Solanas Market Sentiment
Despite the recent volatility, April 2025 predictions are optimistic. Changelly predictions for this month are between $124.29 and $136.96 as their range, averaging $130.63. If this is achieved, it would be a 23.9% probable return on investment relative to the present levels.
Looking forward, 2025 projections have the average value of the SOL at about $139.26, with upside pricing of $140.04. Although the numbers indicate hope for recovery, achievement depends on overall market sentiment, network development, and the state of investors sentiments.
However, Solana is at the crossroads for the time being; its subsequent movement is probable due to whether or not buyers hold key support levels or succumb to persistent negative momentum.
Read more: https://www.tronweekly.com/solana-sol-price-drops-below-key-support/
Text source: TronWeekly
