Solana Plunges 10%: Is $175 The Next Stop?

Solana just got rocked—a brutal 10% nosedive sends shockwaves through crypto portfolios. The high-speed blockchain's token is bleeding out while traders scramble for answers.

Technical Breakdown: Support Levels Crumble

Key support zones shattered like glass as selling pressure overwhelmed buy orders. The 10% collapse isn't just a dip—it's a statement. Market momentum flipped bearish in hours, catching leveraged longs off-guard.

Market Psychology: Fear Replaces Greed

Traders who chased yesterday's pumps are now panic-selling at discounts. The crypto crowd's mood swings from 'to the moon' to 'abandon ship' faster than a meme coin rug pull. Classic herd behavior—everyone's a genius in a bull market until the charts turn red.

Macro Factors: Not Just a SOL Problem

Broader crypto weakness amplified Solana's pain. When Bitcoin sneezes, altcoins catch pneumonia—and SOL's no exception. Regulatory whispers and institutional profit-taking created the perfect storm.

Price Target Reality Check: $175 or Bust?

Technicals suggest $175 isn't just possible—it's probable if current momentum holds. Fibonacci retracements and volume analysis paint a grim picture. Though let's be real: crypto predictions have the accuracy of a blind archer.

Bottom line: Solana's stress test reveals crypto's dirty secret—every 'digital gold' narrative crumbles when traders see red numbers. The only thing dropping faster than SOL's price? Financial advisors pretending they saw this coming.

Is SOL On Its Way To a Recovery?

Solana’s latest price crash comes amid a larger market dip. Bitcoin (BTC) has fallen to the $110,000 price level and shows signs of falling further. If the current trend continues, there is a chance that SOL could slip to the $175-$176 mark.

The market-wide correction could be due to increased profit-taking as Bitcoin and ethereum hit new all-time highs this month. The dip may have also been triggered by increased uncertainties in global economics, fuelled by President Trump’s tariffs.

Solana (SOL) is among the most resilient cryptocurrencies in the market. The asset has made quite a recovery over the last few years. SOL’s price fell to below $9 in 2022 after the collapse of FTX. Since its 2022 lows, SOL has hit multiple all-time highs. The asset’s most recent peak was $293.31, which it hit in January of this year.

Given Solana’s incredible history of bouncing back, there is a high chance that the asset will rebound when market conditions improve. There is a high likelihood that the Federal Reserve will announce an interest rate in September. A rate reduction will boost SOL’s chances of a trend reversal. However, September has usually been a bearish month for crypto. Both instances could cancel each other out and lead to market consolidation.