Overview of Solana's Price Decline
Cryptocurrencies are currently in a bearish phase, with Solana experiencing one of the sharpest declines among top altcoins.
In the past 24 hours, Solana has dropped nearly 10% to under $91, catching many traders off guard amid increased market volatility.
This plunge aligns with broader market pressures, as seen in the crypto heat map, where billions of dollars in leveraged positions have been liquidated over the past week due to massive unwinding in the sector.
Key Market Impacts
- Solana dropped to $90 amid massive liquidations across the crypto market.
- Bitcoin and Ethereum fell to under $73,000 and $2,150.
- Standard Chartered forecasts SOL rally to $250 in 2026 and $2,000 by 2030.
Price Dips 10% Amid Crypto Liquidations
With market sentiment in disarray for much of 2026, Bitcoin has tanked to multi-month lows of $72,800.
The latest dips in BTC and ETH mean strategies from figures like Michael Saylor and Tom Lee are sitting on billions in unrealized losses.
Digital asset treasury companies that invested in Solana, BNB, Cardano, and others face similar trajectories.
For Solana, the price falling under the psychological level of $100 has reinforced the negative trend, with sellers pushing another 10% decline over the past 24 hours to lows of $90.60.
Onchain perpetual markets on Solana contributed significantly, with over $70 million in liquidations from Solana-based platforms in the past 24 hours.
During the downturn, over $65 million of these were long positions.
The surge in forced selling exacerbated the decline, with high leverage amplifying losses for over 15,900 bullish traders.
These liquidations reflect the rapid deleveraging that has also wiped billions of bullish bets from Bitcoin and Ethereum.
Solana Price Prediction
The SOL dip is part of a broader market correction, but there is potential for recovery if bulls hold $90.
However, liquidity contractions and liquidation overhangs, such as the $800 million in total liquidations in the past 24 hours, suggest a possible further downside as excess leverage clears.
The technical picture shows Solana trading below its 50-day moving average around $132, adding to the bearish outlook indicated by the RSI and MACD.
SOL could drop to $70 if markets continue to struggle.
Despite the overall bearish picture, Standard Chartered has outlined a bullish forecast for SOL.
According to the bank, SOL could reach $2,000 by 2030 but has cut its 2026 forecast from about $310 to $250.
Catalysts include the macro picture and capital flows, as well as a fresh explosion in rotation from memecoins to top altcoins. Stablecoin adoption is another factor in the bank's outlook.
