- Solana has factored in an additional price drop of 4.36% in the last 24 hours.
- The altcoin’s daily trading volume has increased by 3.72% as per CMC data.
The cryptocurrency market has continued to dip downwards in the last 24 hours increasing fear among investors. Multiple reasons have cropped up for the market crash, the leading among them being the recent Bybit hack. Although the exchange has revived funds quite rapidly, the aftereffects seem to be arising. Donald Trump’s recent tariff laws also have been a causative factor.
With the recent market crash, Bitcoin has hit the $79,000 level for the first time in 2025. Leading altcoins have also dunked in the past day. Particularly, Solana has factored in an additional 4.36% drop in the duration of the past day. The cryptocurrency has reached its previous trading levels of $130 due to this dip.
In the evening hours of February 27, the altcoin was holding to its $141 support. However, as bearish trends intensified, prices began to free-fall to current ranges. At the time of writing, Solana was trading at $134.33 as per CMC data.
Zooming out, into its weekly chart, the market crash seems to have put a huge dent in Solana’s price actions. The altcoin has been subjugated to a 25.88% drop in the span of the last 7 days. This has caused a price setback in the altcoin making it lose the hikes from the previous bull cycles.
Will Solana Price Fall to $100?
On analyzing Solana’s technical indicators, the altcoin’s Moving Average Convergence Divergence (MACD) MACD lin stands way below the signal line. This indicates a clear bearish control of the trend meaning prices could go further down.
Additionally, its movements trace a descending channel which also highlights a continuation of price drops. These inferences suggest that the altcoin, in the case of any bullish recovery, might drop to the $100 support.
Thirdly, its RSI value stands at 25.64 as per TradingView data. This indicates that the digital asset is in the oversold category. Investors dumping tokens could result in further bearish price movements as it often occurs in bear market cycles.
Finally, other altcoins such as Ethereum and Cardano have also lost their recent price hikes similar to Solana.
