#Solana Price Plummets 15% Amid Aggressive Deleveraging: Is $160 the Crucial Support Level?

As the cryptocurrency market closes out a turbulent week, traders and investors are witnessing a significant shift: a striking red candle has disrupted nearly a month of steady gains, signaling a broad and aggressive deleveraging wave across multiple assets. Among the hardest hit is Solana ($SOL ), which is now on track to close the week down roughly 15% from its $188 open, with price action gravitating sharply toward the critical $160 support level.

Solana’s Decline: A Deepening Correction

Solana’s recent decline highlights a key turning point in its short-term price trajectory. After months of bullish momentum, this sell-off reflects not only a technical correction but also a deeper market sentiment shift, particularly in how leverage and retail interest are playing out in this volatile environment.

The $160 level now emerges as a focal point for traders and investors alike. Why? Because it marks the boundary between sustained losses for holders and a possible reset for new accumulation #strategies .