Why Is Solana Going Down? Will SOL Break $110 or Bounce Back Up?

Why Is Solana Going Down? Check Key Reasons and SOL Price Prediction

Solana (SOL), which is among the best-performing tokens in the cryptocurrency market, is now trading at $115.12, after recording a 3.80% decline in the past 24 hours. CoinMarketCap puts its market cap at $59.22 billion with a 24-hour trading volume of $4.05 billion. 

Source: CoinMarketCap

The token price alone has declined by 15.71% in the past 7 days, going from $136.06 to $112.83 before rebounding slightly to its current position. 

Why is Solana Going Down: What’s Behind the Crash? 

There are several major reasons for the Solana crash, and they're substantial.

Trump Tariff Shockwave: On April 2, U.S. President Donald Trump declared new tariffs on trade for what he termed "Liberation Day." The action startled global markets. Investors promptly withdrew from risky assets such as crypto, including SOL, and went to safer ground. This triggered a general market downturn.

Whales Are Dumping: Blockchain statistics from Lookonchain show that SOL whales have begun unstaking and selling in large quantities. For instance, one address (HUJBzd) sold 258,646 SOL worth more than $30.3 million, and others sold more than 135,000 SOL collectively, which is approximately $16 million. 

Source: Lookonchain

This may be an indication that large investors are selling out, adding additional selling pressure.

Technical Breakdown: Technically, from the TradingView chart, the altcoin has formed lower highs and lower lows, which is an indication of bearishness. The support is currently at $110, but if this line is broken, analysts predict that the Solana price will hit $80. On the upside, the coin needs to push past $125 to $130 to show signs of recovery.

Source: TradingView

Will Solana Rise Again or Crash Further?

Paypal Partnership News: In a big win for mainstream adoption, PayPal now supports the altcoin and Chainlink (LINK) on its platform for U.S. users. This means people can buy, sell, and hold SOL directly through PayPal. It’s a strong sign that big financial platforms believe in the project and its technology.

Solana Price Prediction Next 24 Hours: If the altcoin holds its $110 support level, it could bounce back toward $140, with potential targets of $170 if bullish momentum returns. However, according to Ali Martinez, a break below $110 might push the token down to $80 or further. So, there’s risk – but also opportunity.

Source: X

Is it Right Time to Invest in Solana Today?

This could be a buying opportunity if you're thinking long-term, but do your own research (DYOR) before making any decisions. The coin remains one of the top dApps and NFT platforms, and with huge listing developments such as PayPal, faith in the coin might once again increase.

Conclusion

The Coin's current downfall is caused by a combination of Trump's tariff effect, whale sell-offs, and poor market sentiment. However, strong fundamentals and major partnerships, like the PayPal listing, show that the community still sees potential. If you're looking at SOL price prediction for the future, keep an eye on the $110 support level—and always DYOR before investing in any crypto token.