Solana's $SOL price has dropped by nearly 4% in the last 24 hours to a three-week low of $106 on April 9. SOL’s sharp correction is attributed to the latest round of tariffs from the Trump administration and its potential to erase trillions of dollars from the stock market. Experts claim that the Solana price could go as low as the $80 mark if the bearish trend continues.

Analysts focus on IntelMarkets in this turbulence due to INTL’s constant success. The ICO has become a disruptive force in this bull run as its presale soars above the $12.2 level.

Trump Tariffs Rattle Solana Price: SOL Down By 6%

Following US President Donald Trump's "Liberation Day" tariffs on April 2, Solana's price dropped significantly. Solana's price trajectory has made it a risky investment. Investors are shifting their focus from riskier assets, like SOL, to safer investments as a result of the rise of trade tensions.

A steep reduction in the annualized rolling basis on three-month contracts indicates that the recent Solana price decline is strongly related to diminishing demand in the futures market. As an annual percentage, the annualized rolling basis indicates how much more (or less) futures contracts are trading with the current spot price.

A high basis means futures are trading at a significant premium, signaling bullish expectations and strong demand for leveraged long positions. On the other hand, a low or negative basis means futures are trading close to or below the spot price, indicating a lack of speculative interest or growing bearish sentiment.

SOL futures basis peaked in mid-November 2024 at 18% and was below 0% as of April 3, showing that traders are no longer paying a premium for SOL. The SOL token is plummeting in this bull run, registering an intraday decline of over 4%.

Bears have a complete hold over the SOL market actions. Experts claim that the Solana price declines can result in the SOL token reaching the $80 mark. The dominance of a huge red candle over the daily charts shows the bearish control over Solana.

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