Solana (SOL) is facing a tough time, and things aren’t looking great. Experts say that if it breaks key support levels, the price could drop to $125. Not long ago, SOL was cruising above $250, but now it’s struggling to stay stable.
SOL has dropped to $169.19, down 4.69% in the past 24 hours. It has slipped below the crucial $170 support level, a worrying sign for investors. After dropping this much, SOL has finally risen to $172.
Adding to the pressure, FTX’s bankruptcy proceedings will soon release 11.2 million SOL (about $9.7 million worth) into the market, increasing selling pressure at a time when demand is already weak.
On top of that, another $1.6 billion worth of SOL is set to unlock in March, further increasing downside risks if demand fails to keep up. If buyers don’t step up, it’s going to be a rough ride.
From a technical perspective, things aren’t looking much better. SOL is stuck in a downward channel, meaning sellers are still in control. The next big support level is $160, and if it holds, there’s a chance for a rebound to $180–$185. But if it breaks, the $150–$155 range could come into play. A slide to $125–$130, which is a historically strong support zone, but also a painful drop from current levels.
Investor confidence isn’t just shaken by the price drop, recent scams like $LIBRA, $TRUMP, and $MELANIA rug pulls have only made things worse. With trust in the ecosystem taking a hit, traders are being more cautious, and that uncertainty is clearly reflected in the market.
If buyers start showing interest around $160, Solana could rebound to $180 or even higher. But if selling pressure keeps up and it drops below $160, we might be looking at a fall to $125. With big token unlocks coming up and market sentiment already shaky, everyone’s watching to see if Solana can hold its ground or if more losses are on the way.
Also Read: Solana (SOL) Drops 15% as LIBRA Meme Coin Wipes Billions
