Solana price has dropped 10% after a market-wide cryptocurrency crash, falling below the critical $200 support level. This decline triggered significant liquidations across the Solana ecosystem. The broader crypto market has seen a sharp bearish pullback in the past 24 hours, causing major tokens to breach crucial support zones. Bitcoin mirrored this trend, slipping below the $96,000 watch level. As Solana hovers below $200, the question remains: can it recover, or is a drop to $150 inevitable? Will Solana Bounce Back or Sink Below $150? The global cryptocurrency market cap has fallen to $3.35 trillion, reflecting a 6% decrease in the past 24 hours. Meanwhile, the total market trading volume surged by 46% to $183.87 billion during the same period. Major cryptocurrencies faced significant declines, leading to over $700 million in liquidations. Bitcoin (BTC) dropped below $96,000 after recently peaking at $102,000. This sharp fall contributed significantly to the liquidation volume. Other top altcoins , including Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Shiba Inu (SHIB), XRP, and Cardano (ADA), also experienced notable downturns. Solana price, which recently rallied past $220 amid a strong bullish trend, has seen a sharp reversal. Just last week, SOL was trading near its all-time high of $263. However, the recent bearish market sentiment caused its value to decline significantly. This downturn has left investors questioning whether Solana can recover or slip below the $150 threshold. Bullish Breakout Amid Bearish Trend If the bullish trend makes a comeback, Solana could break through key resistance levels and sustain its upward momentum. Recently, Solana has formed a V-shaped rebound after breaking out of a prolonged downtrend. This market structure indicates increasing buying activity, suggesting a potential continuation of the bullish wave. Key levels to watch include $254.35, which serves as the immediate resistance, followed by $302.02, a zone that could be reached with sustained upside momentum. The final target for this bullish phase is $345.76, marking a significant milestone if the upward trend holds strong. Source- X Solana Price Analysis & Targets As of the reporting time, the SOL price is trading at $194.81, showing a minor decline of 0.45% in the last 4 hours. The cryptocurrency has been consolidating within a descending channel, indicating ongoing bearish pressure. However, traders are eyeing critical price levels that could define its next move. A bullish reversal at this stage could propel the Solana token back above the psychological $200 mark. If buying momentum sustains, SOL may retest the important resistance level of $220, which has historically acted as a strong barrier for further upward movement. On the downside, if bearish sentiment prevails, the Solana price forecast could slide to its immediate support level of $190. Further selling pressure may intensify losses, dragging the token toward its crucial support level at $150, a zone that could determine its medium-term trajectory. Technical indicators such as the Relative Strength Index (RSI) are hovering in the oversold region at 26, suggesting that a potential recovery could be on the horizon. Solana Price TradingView Solana faces a challenging period as it struggles below $200 amid market volatility. Recovery depends on sustained bullish momentum and support at $190. Investors remain cautious, closely monitoring key levels to determine the token’s medium-term price trajectory. The post Is Solana Price Recovery Possible, or Is $150 Inevitable? appeared first on CoinGape .
