Solana (SOL) reclaimed the $93.71 level before retreating to $90.61 as the broader crypto market rallied. According to CoinGecko data, SOL’s price rose 6% in the last 24 hours but remains down over 13% for the month. The rally coincides with political support for pro-crypto legislation, though overall market sentiment remains cautious.
Solana’s price saw a notable increase, briefly reclaiming $93.71 before settling near $90.61. CoinGecko data shows a 6% gain over 24 hours and a 10.8% rise on 14-day charts.
Despite recent gains, the asset is down 13.4% monthly and 36.1% annually. The broader market upswing included Bitcoin briefly reaching $73,900 earlier in the day.
This market rally could be linked to former President Donald Trump speaking out in support of the pro-crypto Genius Act. However, the market environment is still considered weak with low investor sentiment.
Analysts at CoinCodex are bullish on Solana’s prospects over the coming weeks. The platform anticipates the asset to breach the $100 mark on Mar. 18, 2026.
Geopolitical tensions contribute to current market uncertainty, which could lead to sudden investor decisions. Market participants currently show a low appetite for risk, suggesting a potential correction.
Solana has demonstrated resilience since falling below $9 after FTX‘s 2022 collapse. The asset has achieved multiple all-time highs since those lows, indicating potential for recovery.
