3 Reasons Why the Solana (SOL) Price Crashed By 20% Weekly

TL;DR

Solana (SOL) fell below $140 amid a broad crypto correction, whale sell-offs, and other setbacks.

Despite the drop, the asset’s oversold RSI (15.9) and market optimism signal a possible rebound and buying opportunity.

The Potential Factors

Solana (SOL) was at the forefront of gains at the start of the year, with its price soaring to a new all-time high of over $285 on January 19. This happened one day before Donald Trump’s inauguration as America’s 47th President, which supposedly triggered huge excitement across the entire crypto space. 

Since then, though, the asset has been experiencing a downfall. The price has tumbled by 19.5% in the last week, currently trading at roughly $137. Its market capitalization has collapsed to approximately $67 billion, making SOL the sixth-biggest cryptocurrency. $BTC