Solana (SOL) has retreated to approximately $84 after encountering significant resistance near $93 earlier this week. The cryptocurrency has declined by 4% over the past 24 hours and is down more than 40% since March 2025, according to market data. Analysts suggest a breach of the $94 level is crucial for SOL to potentially reclaim the $100 price point again.
Solana (SOL) has dipped to the $84 mark again after recently reaching $93. The asset faces substantial resistance at the $92-$93 price range.
CoinGecko data shows SOL’s price has fallen by 4% in the last 24 hours. Over the previous month, the decline is 7.4%, and it is down more than 40% since March 2025.
The popular cryptocurrency has nonetheless rallied by 3.5% in the last week. SOL last traded above the $100 mark in early February of this year.
If the asset breaches the $94 price mark, its next challenge could come around the $104-$105 range. Therefore, going beyond the $94 mark is key for SOL to reclaim the $100 mark.
Solana had quite a bullish year in 2025, hitting a new all-time high of $293.31 on Jan. 19, 2025. The asset is currently down by 71.3% from that peak.
The asset’s price once fell to below $9 after the collapse of FTX in 2022. However, Solana has made a massive recovery over the last few years.
Solana’s current predicament is attributed to the larger bearish market environment. Macroeconomic worries, geopolitical tensions, and a risk-off approach by market participants have kept investors away from cryptocurrencies.
