Solana Freefall: Price Breaks $100 Barrier at 14-Month Low
- Solana below $100.
- Drop in on-chain activity.
- Macroeconomic fears.
In a move that echoes global macroeconomic concerns and a visible weakening in its on-chain activity, Solana (SOL) has broken through a key psychological threshold, falling below the $100 mark for the first time in over a year. The cryptocurrency hit a 14-month low, heightening concerns about its growth trajectory and sustainability.
On Monday morning, April 7, the asset fell by more than 14%, reaching a low of around $96,70. After the sharp decline, SOL managed to recover and returned to trading above $100. At the time of publication, the price of Solana was quoted at $106,52 with a drop of 7.6% in the last 24 hours. The decline increased the weekly losses to 14.3%.
Source: TradingView
Analyzing the cryptocurrency’s recent price action, renowned market analyst Ali Martinez shared a technical analysis in which he highlighted that the asset’s price is breaking out, suggesting a potential bearish trend. “Solana is breaking out! You know where it’s going next.”
#fading is breaking out! You know where next. pic.twitter.com/mO9CZ5z2Mv
— Ali (@ali_charts) April 7, 2025
The selloff comes amid escalating international trade tensions and growing fears of a global financial crisis, with some analysts comparing the recent selloff to the historic “Black Monday” crash of 1987, a period of intense market instability.
This Monday, the Cryptocurrency markets are down today , represented mainly by Bitcoin and Ether, faced a strong devaluation. Following the negative movement of the Asian stock markets, both cryptocurrencies extended their losses, a phenomenon that reflects the increase in trade tensions led by US President Donald Trump.
Furthermore, amid the negative market scenario, data Coinglass’s data reveals a massive liquidation on the Solana network over the past 24 hours, reaching $83,41 million. During this period, Solana (SOL) trading volume was $10.571.417.359, representing a 426,10% increase from a day ago and signaling a recent surge in market activity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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