Solana (SOL) Market Sentiment Plummets: This is the analysis! (2/27/25)

Jakarta, Pintu News – In recent days, the crypto market has experienced a significant drop, with Solana SOL4.97%->Current SOL PriceRp 2.024.8874.97%Market Cap-Trading Volume-Circulating Supply- being one of the hardest hit. This price drop has caught the attention of many analysts and investors who are trying to predict the future of this digital currency.

With market sentiment hitting a one-year low, many are wondering if this is the beginning of the end for Solana (SOL) or just a temporary setback.

Solana (SOL) Market Sentiment Plummets

Solana (SOL) has suffered a dramatic drop following a broader market decline, with prices hitting a five-month low. Crypto analyst, Miles Deutscher, noted that sentiment towards Solana (SOL) is currently at its lowest level since the currency hit $100 in early 2024.

This drop comes on the heels of Bitcoin BTC1.65%->Current BTC PriceRp 1.408.292.3891.65%Market CapRp 33.034 TriliunTrading VolumeRp 1.590 TriliunCirculating SupplyRp 19.797.675 also losing support at the $90,000 level, a condition that hasn’t been seen since November of the previous year. The drop was compounded by growing concerns regarding the Solana-based memecoin scam (SOL), which has caused fatigue among the community. This, along with the Libra token crash that cost investors over $100 million, has triggered capital rotation from Solana (SOL) to Ethereum ETH0.97%->Current ETH PriceRp 26.674.2640.97%Market Cap-Trading Volume-Circulating Supply-.

Also Read: Bybit Recovers $600 Million Ethereum (ETH) After $1.5 Billion Crypto Robbery

Potential for a Further 50% Drop?

Jelle, another crypto analyst, points out that Solana (SOL) has experienced a 50% drop from its January peak and is now at weekly key levels. The $130 and $140 zones have been key support during the previous peak in 2021 and during the rally in 2024.

Jelle emphasized that maintaining this area will be critical to Solana’s (SOL) performance going forward, especially with the token unlock scheduled for March 1. Ali Martinez, another analyst, noted that the Solana (SOL) to Bitcoin (BTC) trading pair is starting to show a similar pattern to Ethereum (ETH) to Bitcoin (BTC) in the past. If this trend continues, there is a chance that Solana (SOL) will experience another 50% drop to the $70 region.

Buying Opportunities in the $90-$125 Zone?

Although the short-term outlook looks bleak, Altcoin Sherpa sees the $90-$125 zone as a potential buying area. This analyst believes that Solana (SOL) is not completely “dead” and will likely recover from this low.

However, significant volatility is expected as the market tries to find a stable footing. Currently, Solana (SOL) is trading at $141.36, representing a 45% decline in the monthly time frame. This marks one of the most challenging periods for the digital currency in recent times.

Conclusion

With all the challenges it faces, the future of Solana (SOL) seems to be filled with uncertainty. Investors and market watchers will need to pay close attention to further developments, especially with the upcoming token unlock. Whether this will be a turning point for Solana (SOL) or the start of a further decline, only time will tell.

Also Read: Bitcoin (BTC) is heading towards $90,000, XRP and BNB are on the rise (2/27/25)

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Solana Sentiment Hits 1-Year Low Amid Market Correction, Analyst Suggests Drop to $70. Accessed on February 26, 2025
• Featured Image: DL News