Solana (SOL) has fallen below $85 and continues to decline in price. SOL’s price has faced major challenges in recent months as we enter another bear market. According to CoinGecko, SOL’s price has fallen 1% in the past 24 hours, 19.1% in the last week, 32% on the 14-day chart, and nearly 38% month-over-month. SOL hit an all-time high of $293.31 in January 2025, but 2026 looks like it will reverse. The asset is down more than 71% from its all-time high in 2025. Considering Solana’s (SOL) price drop, let’s discuss whether it will fall to its January 2023 low of $9.96.
Will Solana’s price drop to the $9 range?
Solana (SOL) faced a massive price crash after the FTX collapse in 2022. The asset eventually fell below the $10 threshold in early January 2023. However, it is highly unlikely that SOL will fall to its 2023 lows. The 2022 market crash was further exacerbated by the FTX debacle. This time, such a large-scale run has not occurred in the virtual currency industry. This selloff is likely due to liquidity constraints, macroeconomic uncertainty, and geopolitical tensions.
Solana (SOL) has shown quite a recovery from its 2023 lows. The asset has hit multiple highs over the past few years and is likely to rebound if the market gains momentum. SOL has proven to be one of the most resilient crypto assets on the market. Once the market gets back on track, the popular cryptocurrency is likely to rise to new highs.
According to Telegaon analysts, Solana (SOL) will reach a new all-time high in 2026, breaking the $300 mark for the first time in history. Given the bullish outlook, the current price could be a good entry point for long-term investors.
