Solana (Sol) has seen a significant price drop in recent months. The asset reached an all-time high of $293.31 at the beginning of January this year. Sol’s prices have fallen nearly 60% since its peak in January. SOL is down 4.8% on daily charts, 14.1% on weekly charts, 11.6% on 14-day charts, 13.3% on previous month and 37.8% since March 2024.
Cryptocurrency continues to decline
The US has imposed increased tariffs on several trading partners since April 2. President Trump called it “liberation day” for all Americans. This move could have an impact on the market. Cryptocurrency did not respond very much to development. Solana (SOL) and other major crypto assets trade in the red zone today. Market participants may be tired of the economic impacts of tariffs.
Sol prices have been falling significantly since January. The crypto market is currently facing considerable resistance. Bitcoin (BTC) rose to $88,000 in late March, but then fell into the $83,000 price range. Cryptocurrencies may not move until BTC exceeds its current resistance point.
Price forecast: Will Solana regain $150 by mid-April?
According to Concodex, Solana (SOL) could meet in the coming days. The platform expects assets to reach $135.65 on April 15th. If the $135.65 target is reached, Sol’s price will rise by 14.2%. Cincodex doesn’t expect Sol to cost more than $130. The platform expects to have a revision of about $122 by early May.
Solana recovered strongly from DIP in 2022. When FTX collapsed in November 2022, the market value of the assets fell below $10. Sol has hit a variety of new price highs over the last few months. Increased adoption rates of assets demonstrate their strength as evidence of resilience. Recovery of assets seems realistic for the future.
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