Solana (SOL) price has dropped 5.37% in the last 24 hours, trading at $175.43 amid a broader market pullback after weekend gains faded, according to CoinMarketCap data. Key support levels at $174.22 and $173 are under test, with potential further declines to $170 or lower if breached.
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SOL/USD sees 5.37% decline: The cryptocurrency is approaching critical support zones on hourly and daily charts, signaling possible continued downward pressure.
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Market context post-weekend: Bulls failed to sustain momentum, leading to a correction in top assets like Solana, as tracked by CoinMarketCap.
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Technical outlook includes $170 and $157 targets: With low volatility expected, a weekly close near current levels could push prices to the next support at $157, per TradingView analysis.
Discover the latest Solana price analysis as SOL drops 5.37% to $175.43, testing key supports. Explore market trends and technical insights for informed crypto decisions today.
What is the Current Solana (SOL) Price and Why Has It Declined?
Solana (SOL) is currently trading at $175.43, reflecting a 5.37% decline over the past 24 hours following a failure by market bulls to maintain weekend growth momentum, as reported by CoinMarketCap. This pullback aligns with broader cryptocurrency market corrections, where top assets like SOL face resistance after recent rallies. On the hourly chart, SOL hovers near the local support level of $174.22, and a daily close at or below this mark could accelerate the drop toward the $170 zone, according to technical indicators from TradingView.
Top coins by CoinMarketCap
The rate of Solana (SOL) has declined by 5.37% over the last 24 hours, placing it among the underperforming major cryptocurrencies in today’s session.
Image by TradingView
On the hourly chart, the price of SOL is near the local support of $174.22. If the daily bar closes near that mark or below it, the drop is likely to continue to the $170 zone. This level represents a psychological barrier where buyers have historically stepped in during past corrections, but current volume suggests weakening participation from bulls.
How Is Solana’s Price Performing on Longer Time Frames?
On longer time frames, SOL has tested the support of $173, with most of the daily Average True Range (ATR) already elapsed, indicating low chances of sharp moves by the next trading session. TradingView charts show that accumulated selling pressure could lead to a breakout, potentially driving prices into the $160-$170 range if momentum builds negatively. From a midterm perspective, no clear reversal signals have emerged yet; an ongoing drop to the nearest support of $157 remains possible if the weekly bar closes around current prices, as traders monitor for volume spikes that could confirm direction. Historical data from CoinMarketCap highlights that SOL has bounced from $157 in previous cycles, underscoring its resilience as a high-throughput blockchain alternative to Ethereum. Experts like those at blockchain analysis firms note that Solana’s network upgrades in 2024 have bolstered its fundamentals, yet short-term volatility persists due to macroeconomic factors such as interest rate expectations.
Image by TradingView
However, if a breakout happens, the accumulated energy might be enough for a test of the $160-$170 range, where accumulation zones from earlier in the year could provide buying interest.
Image by TradingView
From the midterm point of view, there are also no reversal signals yet. If the weekly bar closes around current prices, traders may witness an ongoing drop to the nearest support of $157. SOL’s ecosystem, known for its speed in processing over 65,000 transactions per second, continues to attract DeFi and NFT projects, but price action remains tied to Bitcoin’s dominance in the market. According to reports from financial analysts at reputable firms, Solana’s total value locked (TVL) has grown steadily, reaching over $5 billion in recent metrics, which supports long-term optimism despite today’s dip. This technical setup emphasizes the importance of monitoring on-chain metrics alongside chart patterns for a balanced view.
SOL is trading at $175.43 at press time, with market capitalization holding steady above $80 billion, per CoinMarketCap updates. The cryptocurrency’s performance reflects a cautious sentiment among investors, as global economic indicators influence risk assets like digital currencies. Solana’s proof-of-history consensus mechanism has been praised by developers for enabling scalable applications, contributing to its position as a top-five asset by market cap.
Frequently Asked Questions
What Factors Are Causing the Recent Solana Price Drop in 2025?
The recent Solana price drop of 5.37% stems from a broader market correction after weekend gains, as bulls failed to sustain momentum, according to CoinMarketCap. Key technical supports at $174.22 and $173 are being tested, with low daily ATR suggesting limited volatility ahead. External pressures like regulatory news and Bitcoin’s fluctuations also play a role in SOL’s short-term decline.
Will Solana Price Recover Soon from Its Current Support Levels?
Solana’s price, currently at $175.43, is testing key supports, and recovery depends on a weekly close above $173 to signal bullish reversal, as indicated by TradingView patterns. If it holds $170, historical bounces suggest a potential rebound toward $180 resistance, driven by strong ecosystem growth in DeFi and NFTs. Investors should watch volume for confirmation.
Key Takeaways
- SOL’s 5.37% Decline: Trading at $175.43, the asset is near $174.22 support, with risks of further drops to $170 if breached on daily charts.
- Low Volatility Expected: With most ATR passed, sharp moves are unlikely soon, but a breakout could target $160-$170 based on accumulated pressure.
- Midterm Support at $157: No reversal signals yet; monitor weekly closes for potential drops, while Solana’s fundamentals remain robust for long-term holding.
Conclusion
In summary, Solana (SOL) price analysis reveals a 5.37% drop to $175.43, testing critical supports amid market-wide corrections, as detailed in technical views from TradingView and data from CoinMarketCap. While short-term pressures persist without reversal signals, Solana’s innovative blockchain features position it for future growth in the evolving crypto landscape. Stay informed on these developments to navigate volatility effectively, and consider diversified strategies for sustained portfolio health.
