Solana (SOL) is making headlines again as it swings up and down, leaving traders wondering if it will ever hit $200 again or drop lower.
The cryptocurrency saw a big pump on March 2nd after President Donald Trump announced the Crypto Strategic Reserve with a list including SOL, along with XRP, Bitcoin, Etheurm, and Cardano. Trump made it clear that he wants the U.S. to lead in crypto.
Investors took the news as a bullish sign; they pumped the coin, but not for long, as it started to drop in value once again
Right now, Solana is trading at $145.14, moving between $140.43 and $149.49 in the last 24 hours. It’s still far from its all-time high of $294.33 in January 2025, but some believe it could get there again. However, analyst believe $200 is not something Sol can easily cross, and it can even drop further from the current price.
Will Solana crash to $75?
Crypto analyst @CryptoJobs3 on X thinks Solana will stay between the $153 and $138 price range for now. He sees $118 to $125 as a strong support zone that the price is likely to respect. But if SOL drops below $115, it could crash to $75 or $80. On the flip side, a break above $155 might push it to $180 or $185.
Another trader, TB21Crypto gave a similar. He said $126 is a critical level. If Solana loses this support, it could lead to a bigger downtrend.
“The coin has shown extremely strong price action in this bull market cycle. It is still holding the support zone at $126. If SOL loses this level, which aligns with the 0.236 Fibonacci retracement, a downtrend could begin,” he tweeted.
Meanwhile, Analyst Marzell is extremely bullish with his prediction. He points out that SOL and surge by 45% from its support level of $120. He believes this rally will continue for a while and sees a possible 90% to 162$ surge with price targets of $296.38, $339.55, and $384.56.
Moreover, technical indicators like the Relative Strength Index (RSI) on the weekly time frame are showing that the coin is about to enter an oversold condition, which means the selling pressure might soon be over, and the bulls could probably take over.
However, the risks still remain, and nothing is certain. The next few days will tell what happens next.
Also Read: Hamster Network Hits 34,028 TPS, Beating Solana and Aptos
