Solana (SOL) continues to be a topic of debate among cryptocurrency traders, as its price oscillates unpredictably. Investors are now left wondering if the coin will ever hit $200 again or fall back to $75.
On March 2, Solana saw a brief surge after U.S. President Donald Trump announced the creation of a Crypto Strategic Reserve, which included Solana, along with XRP, Bitcoin, Ethereum, and Cardano. The news initially sparked optimism among traders, driving the price higher, but the rally was short-lived, and the price began to decline once again.
Currently, Solana is trading around $145.14, with fluctuations between $140.43 and $149.49 over the past 24 hours. Although still far from its all-time high of $294.33 in January 2025, there are speculations that it could reach such heights again. However, many analysts believe that breaking the $200 mark will be difficult for Solana, and a further decline is possible.
Could Solana Drop to $75?
Crypto analyst @CryptoJobs3 on X suggests that Solana is likely to remain within the $153 to $138 range for the time being. He identifies a strong support zone between $118 and $125, which could hold the price steady. However, if the price drops below $115, it could potentially fall to as low as $75 or $80. On the other hand, if Solana breaks above $155, it could rally to $180 or $185.
Similarly, trader TB21Crypto highlights the importance of the $126 support level. Losing this support could trigger a larger downtrend. He notes, “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, a downtrend could begin.”
In contrast, analyst Marzell remains bullish, predicting that Solana could surge by 45% from its current support level of $120. He foresees a rally continuing with possible price targets of $296.38, $339.55, and $384.56, indicating a potential surge of up to 162%.
Technical indicators, such as the Relative Strength Index (RSI) on the weekly timeframe, suggest that Solana might soon reach an oversold condition, signaling that the selling pressure could subside and a bullish reversal may be on the horizon.
Nevertheless, despite the optimistic projections, the risk factors persist, and market conditions remain uncertain. Traders and investors will need to watch the upcoming days closely to determine Solana’s next move.
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