Prediction: Bears Take Control as Solana ($SOL ) Slips Below $100

Solana (SOL) is facing strong bearish momentum after falling over 15% last week, with Monday bringing more pain as it dipped below $100, now trading around $97.50. In the past 24 hours alone, over $70 million in leveraged SOL positions were liquidated, according to Coinglass.

This sharp drop comes amid a broader crypto market selloff, dubbed “Black Monday”, where total liquidations exceeded $1 billion. Bitcoin fell below $75,000, hitting a new yearly low at $74,701, triggering panic across altcoins.

Analysts suggest SOL may revisit $92.88, its February low, especially as DEX trading volume on Solana has plummeted to its lowest level this year — from $35.6B in mid-January to just $713.6M last weekend, per Arthemis.

The downturn is also tied to renewed trade tensions after former U.S. President Donald Trump announced tariffs, sparking global market anxiety. China’s retaliatory 34% tariff on U.S. imports has fueled fears of a new trade war, hitting both crypto and Asian stock markets. Japan's stock index, for example, dropped to its lowest point since October 2023.

With declining trader interest and shrinking liquidity, SOL remains vulnerable. If bearish pressure continues, $92.88 could be the next target.

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