Solana’s SOL Drops 7.87% to $147 Amid Market Volatility
Solana's SOL declined 7.87% to $147.07 in the last 24 hours, following increased volatility in crypto markets. The price peaked at $159.60 before dropping to a low of $142.13. It later stabilized above $147. Key trading volumes indicate some accumulation around support, yet the token remains nearly 40% below March highs.
Standard Chartered’s Global Research team projected SOL could reach $275 by year-end and $500 by 2029, citing Solana's speed and efficiency. However, much of its recent activity is discounted by the market. This creates uncertainty for long-term investors regarding whether recent declines are temporary or indicative of deeper issues.
Current price action is volatile, with support near $143 and resistance around $150. The potential for SOL to align with year-end forecasts may hinge on macro stabilization and enhanced on-chain activity.
Technical Analysis Highlights
- SOL dropped 11.87% intraday from $160.49 to $142.13.
- Intense selling was noted between 23:00–01:00 UTC before stabilization.
- A consolidation range formed between $143.50–$146.50.
- Higher lows since 02:00 indicate possible bullish divergence.
- Volume peaked at 31.8K SOL and 43.4K SOL as buyers defended support.
- Resistance at $152; a break above could alter short-term trend.