The cryptocurrency market is facing another collapse today. Bitcoin (BTC) has crashed to the $72,000 price level, and most other assets are following in its footsteps. SOL is also following the overall market correction trend. CoinGecko’s Solana data shows that SOL’s price has corrected by nearly 4% in the past 24 hours. Solana (SOL) currently faces a risk of falling below $80. Let’s discuss how far cryptocurrencies can fall.
Is it possible for Solana to drop below $80?
Solana (SOL) has fallen below $80 twice in the past three months. SOL fell to $77.98 on April 2, 2026, and $78 on February 28, 2026. If SOL breaks below $80, there appears to be some support in the $77-$79 price range. If SOL falls below the $77-$79 price range, it could fall to the $70 level. SOL has not experienced this price level since late 2023.
Solana (SOL) is one of the most resilient cryptoassets on the market. While the current decline is alarming, it is nowhere near what happened in 2022. After the collapse of FTX, the price of SOL fell below $10. However, the property made quite a comeback in the years that followed. Solana (SOL) hit an all-time high of $293.31 on January 19, 2025.
Solana price is likely to continue falling in the coming days. This drop is likely due to the possibility that the US and Iran may fall into a larger conflict. Talks between the US and Iran have not reached an agreement. If the situation worsens, oil prices could rise further. When oil prices rise, inflation occurs. Therefore, investors are very concerned about risky assets. Solana (SOL) and other risk assets could take a hit. If the war between the US and Iran resumes, the cryptocurrency market is expected to take a hit.
