What’s Next for SOL Price?

The cryptocurrency market is currently experiencing a significant downturn, with global trade tensions and President Trump’s recent Executive Order to establish a Strategic Bitcoin Reserve contributing to the decline. This has left crypto traders feeling disappointed, particularly impacting the price of Solana. As a result, Solana has seen a sharp decrease in important on-chain metrics, with the price falling below $100 and showing signs of further decline.

Solana’s realized price has dropped to a 3-year low, reflecting the average cost basis of all coins last moved. This indicates that the average holder is facing losses, which could lead to panic selling or capitulation. In the last 24 hours, SOL price has witnessed nearly equal domination among buyers and sellers, with a total liquidation of around $27.3 million. Sellers closed $11.6 million worth of positions, contributing to Solana’s 15% plunge to $114 amid the broader market downturn.

Additionally, Solana’s revenue has plummeted by 93% to around $4 million, the lowest it has been since September 2024. Income from its decentralized applications (DApps) has also fallen by 86%, from $238 million in mid-January to just $32 million by March 2025. The total value locked (TVL) in Solana’s DeFi ecosystem has halved, dropping from a peak of over $12 billion to roughly $6.38 billion.

Despite recent efforts to recover from its lows, Solana’s price remains under intense bearish pressure, aiming for a drop below immediate Fib channels. At the time of writing, Solana’s price stands at $127, having surged by 6.56% in the last 24 hours. The SOL/USDT trading pair is facing multiple rejections as sellers defend an immediate surge above EMA trend lines. The Relative Strength Index (RSI) hovering below the midline at level 44 suggests a potential drop in SOL’s price, with a retest of $110 possible.

If SOL sustains above $110, buyers may benefit and push the price towards $139, with a potential surge to $153. However, a drop below $110 could lead to a strong correction below $100. Despite the current challenges facing Solana, the cryptocurrency market remains volatile, and future price movements will depend on various factors influencing the broader market landscape.