 ▲ Solana (SOL) / AI-Generated Image © |
Solana has once again been pushed back to the mid-$80 range after facing resistance in the $90 zone, with market attention now focused on whether it can break through $94.
According to cryptocurrency media outlet Watcher.Guru on March 7 (local time), Solana (SOL) rose to $93 on March 5 before retreating to around $84. While the current price range is serving as short-term support, the outlet reported that strong selling resistance has formed between $92 and $93.
Based on CoinGecko data, SOL fell 4% over the past 24 hours. It declined 0.1% over the past 14 days and dropped 7.4% on a monthly basis. Compared to March 2025, the price is down more than 40%. However, it has posted a 3.5% gain over the past week, showing signs of a short-term rebound.
From a structural perspective, the key turning point is whether SOL can break above $94. Watcher.Guru analyzed that if SOL surpasses $94, the next resistance zone is likely to form around $104–$105. In other words, breaking $94 is seen as the decisive technical hurdle that must be cleared before SOL can reclaim the $100 level.
Solana recorded strong gains during the 2025 bull market. The asset reached an all-time high of $293.31 on January 19, 2025, but following a market correction, its current price remains approximately 71.3% below that peak.
The outlet noted that although recent price performance has been sluggish, Solana has already proven its long-term resilience. After the collapse of FTX in 2022 pushed its price below $9, Solana staged a powerful rebound. The current weakness is attributed to macroeconomic uncertainty, geopolitical tensions, and risk-off sentiment. It projected that if market conditions ease, SOL could once again demonstrate strong upward momentum.
Disclaimer: This article is for investment reference purposes only and the publisher is not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.