Solana Freefall: Price Breaks $100 Barrier at 14-Month Low

• Solana below $100.
• Drop in on-chain activity.
• Macroeconomic fears.

In a move that echoes global macroeconomic concerns and a visible weakening in its on-chain activity, Solana (SOL) has broken through a key psychological threshold, falling below the $100 mark for the first time in over a year. The cryptocurrency hit a 14-month low, heightening concerns about its growth trajectory and sustainability.

On Monday morning, April 7, the asset fell by more than 14%, reaching a low of around $96,70. After the sharp decline, SOL managed to recover and returned to trading above $100. At the time of publication, the price of Solana was quoted at $106,52 with a drop of 7.6% in the last 24 hours. The decline increased the weekly losses to 14.3%.

Analyzing the cryptocurrency’s recent price action, renowned market analyst Ali Martinez shared a technical analysis in which he highlighted that the asset’s price is breaking out, suggesting a potential bearish trend. “Solana is breaking out! You know where it’s going next.”

#fading is breaking out! You know where next. pic.twitter.com/mO9CZ5z2Mv

— Ali (@ali_charts) April 7, 2025

The selloff comes amid escalating international trade tensions and growing fears of a global financial crisis, with some analysts comparing the recent selloff to the historic “Black Monday” crash of 1987, a period of intense market instability.

This Monday, the Cryptocurrency markets are down today , represented mainly by Bitcoin and Ether, faced a strong devaluation. Following the negative movement of the Asian stock markets, both cryptocurrencies extended their losses, a phenomenon that reflects the increase in trade tensions led by US President Donald Trump.

Furthermore, amid the negative market scenario, data Coinglass’s data reveals a massive liquidation on the Solana network over the past 24 hours, reaching $83,41 million. During this period, Solana (SOL) trading volume was $10.571.417.359, representing a 426,10% increase from a day ago and signaling a recent surge in market activity.