Solana (SOL) has fallen below the $80 mark, failing to reclaim $100 after a May attempt. Data shows the seventh-largest cryptocurrency is down 2.5% daily and 5.4% weekly. The drop follows stalled US-Iran peace talks and renewed geopolitical tensions, which threaten higher oil prices and inflation, potentially influencing Federal Reserve policy.
Solana (SOL) has once again fallen below the $80 mark after an unsuccessful attempt to reclaim the $100 price level in May. CoinCodex SOL statistics show the asset trading in the red across all time frames, with a 2.5% daily and 5.4% weekly decline.
The latest correction follows the failure of peace talks between the US and Iran, with both countries calling for a closure of the Strait of Hormuz. This development risks pushing global oil prices higher, which could negatively impact inflation figures.
Solana began its downward trajectory last month after US inflation figures for April 2026 came in higher than anticipated. The new geopolitical pressure could force the Federal Reserve to keep interest rates unchanged or even hike them.
Such a scenario could lead to Solana facing additional sell pressure. The asset’s current price levels were last seen in early April of this year.
Solana is described as one of the most resilient cryptocurrency assets in the market. Its current drop is not as severe as its crash below $10 following the collapse of FTX in November 2022.
The asset has hit multiple all-time highs in the years since its 2022 lows. However, it may continue its bearish trajectory until the larger crypto market improves.
The cryptocurrency sector is currently dependent on larger macroeconomic developments. The market may not see much positive movement until the US-Iran conflict concludes.
