Will Solana Drop Below $90 This Week? 14% Selloff Raises Red Flags

Despite the Selloff, Some Are Still Betting on Solana

Even with the sharp downturn, not everyone is bearish. One whale wallet has been seen staking 71,318 SOL—worth roughly $7.63 million—in what some interpret as a sign of long-term confidence. It’s a small but notable vote of faith amid the current market chaos.

Analysts: Sub-$90 Solana Is in Play

Many analysts now believe Solana could dip further this week. Jason Pizzino, a well-followed crypto strategist, sees $90 as the next key level to watch—warning that if that fails to hold, SOL could test deeper support at $80, or even as low as $60, if broader market weakness continues.

That view isn’t without merit. The Crypto Fear & Greed Index has plunged to 23, a level not seen in over a month. Extreme fear often leads to a risk-off attitude among traders, which means fewer buyers—and more room for prices to fall.

Token Unlocks Could Add More Pressure

Adding fuel to the fire is this week’s scheduled unlock of 465,000 SOL, valued at about $50 million. Unlock events like this can lead to fresh selling pressure, especially in shaky markets like the one we’re seeing now.

With sentiment already bruised, a sudden influx of tokens could tip the scales even further toward the downside.

Key Takeaways:

• Solana is down 14% in 24 hours, trading around $101.

• Over $62 million in long positions have been liquidated.

• Analysts warn of a potential drop below $90, with support seen at $80.

• 465,000 SOL tokens (~$50M) are scheduled to unlock this week.

• Fear & Greed Index has fallen to 23, indicating extreme market fear.

Final Thoughts

Solana’s recent price action reflects the broader market’s uncertainty. Between mounting sell pressure, looming token unlocks, and investor fear, the path forward looks rocky. Still, some remain optimistic about a rebound—but for now, caution seems to be the dominant mood.