2026-2-5 22:05 |
Solana dropped to $90 amid massive liquidations across the crypto market. Bitcoin and Ethereum fell to under $73,000 and $2,150. Standard Chartered forecasts SOL rally to $250 in 2026 and $2,000 by 2030.
Cryptocurrencies are bearish, and Solana’s price has experienced one of the sharpest declines among top altcoins.
In the past 24 hours, the cryptocurrency has dropped nearly 10% to under $91, with many traders caught off guard amid heightened market volatility.
As can be seen in the crypto heat map below, Solana’s plunge aligns with broader market pressure. Billions of dollars in leveraged positions have been wiped out in the past week as the sector faces massive unwinding.
Solana among cryptocurrencies in red. Source: Coin360 Price dips 10% amid crypto liquidationsWith market sentiment in shambles for much of 2026, it is no surprise that Bitcoin tanked to its multi-month lows of $72,800.
BTC and ETH’s latest dips mean Michael Saylor’s Strategy and Tom Lee’s BitMine currently sit on billions of dollars in unrealized losses.
Digital asset treasury companies that flocked to Solana, BNB, Cardano, and others have similar trajectories.
For Solana, the coin’s price under the psychological level of $100 has strengthened this. Sellers sustained this negative trend with another 10% push over the past 24 hours, hitting lows of $90.60.
Onchain perpetual markets on Solana contributed significantly, with over $70 million in liquidations from Solana-based platforms in the past 24 hours.
During the downturn, over $65 million of these were longs.
The surge in forced selling exacerbated the decline, with high leverage amplifying losses for over 15,900 bullish traders.
The liquidations reflect the rapid deleveraging that has also wiped billions of bullish bets from Bitcoin and Ethereum.
Solana price predictionThe SOL dip is part of a broader market correction, but there’s a potential for recovery if bulls hold $90.
However, liquidity contractions and liquidation overhangs, such as the $800 million in total liquidations in the past 24 hours, suggest a possible down leg as excess leverage clears.
The technical picture also has Solana trading below its 50-day moving average around $132, which adds to the bearish outlook of the RSI and MACD.
Solana price chart by TradingViewSOL could drop to $70 if markets continue to struggle.
Despite the overall bearish picture, Standard Chartered has pointed out a bullish forecast for SOL.
According to the bank, SOL could reach $2,000 by 2030 but has cut its 2026 forecast to from about $310 to $250.
Catalysts include the macro picture and capital flows, as well as a fresh explosion in rotation from memecoins to top altcoins. Stablecoin adoption is another factor in the bank’s outlook.
The post Solana price outlook: bears test $90 amid massive liquidations appeared first on CoinJournal.
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