Solana (SOL) has dropped 11.8% in the last 24 hours, trading around $192 at the time of writing, as the broader cryptocurrency market experiences one of its sharpest sell-offs of the quarter.
The move comes alongside massive liquidations exceeding $5 billion, with Bitcoin dropping below $107,000 and Ethereum sliding under $3,800.
According to CoinMarketCap, Solana’s market cap fell 11.7% to $105.96 billion, while 24-hour trading volume jumped 64% to $13.09 billion, reflecting heavy volatility and increased trader activity. The sharp decline erased SOL’s early-week gains when it was trading above $220.
Despite the correction, Solana continues to attract strong developer activity and network growth, maintaining its reputation as one of the most efficient Layer 1 blockchains. Analysts point to the $185–$190 support zone as a key level to watch for potential stabilization.
If Bitcoin manages to recover from current lows, Solana could quickly rebound toward the $205–$210 resistance zone. However, if selling pressure continues, the next downside target may sit near $180, where previous buyers stepped in during the last major dip.
