Solana Plunges 18% in 24 Hours: Analysts Warn of $80 Freefall Amid Liquidations and Token Unlocks
April 8, 2025 – Solana (SOL) crashed 18% within 24 hours, breaking below the $100 mark for the first time since February and triggering panic among traders.
The sudden drop saw SOL touch $97, a sharp decline that wiped out millions in long positions and set off alarm bells across the crypto market. Over $62 million in bullish leverage trades were liquidated, as per Coinglass, making Solana the second-most liquidated altcoin, trailing only Ethereum.
Trading Volume Explodes Over 230%
The dramatic price action was accompanied by a surge in activity, with Solana’s 24-hour trading volume hitting $5.39 billion—a 230% spike. Analysts note that the bulk of this activity is panic selling, driven by deteriorating macroeconomic sentiment and a major shift in market psychology.
The fear-based selling coincides with President Donald Trump’s renewed tariff announcements, which rattled global markets and sparked a broad sell-off in risk assets, including cryptocurrencies.
$50 Million Token Unlock Looms Over Fragile Market
Solana’s troubles may not be over. According to on-chain tokenomics trackers, 465,000 SOL—worth over $50 million—will be unlocked this week, likely increasing sell pressure. Token unlocks often lead to price volatility, especially in bearish environments, and investors are bracing for potential dumping.
The Crypto Fear and Greed Index dropped to 23, marking a new monthly low. This metric shows extreme fear among retail traders, leading many to stay sidelined rather than buy the dip—adding to downward momentum.
Whale Confidence Clashes With Retail Panic
Interestingly, one whale wallet staked over 71,000 SOL (worth $7.6 million) amid the drop, signaling a vote of confidence in Solana’s long-term fundamentals. However, despite the bold move, the address remains in loss due to the steep decline. Whale activity can often steer market sentiment, but in this case, retail traders are showing hesitation in following suit.
Top Analyst Predicts $80 Breakdown — Or Worse
Renowned crypto analyst Jason Pizzino issued a stark warning: Solana’s failure to hold the $100 psychological support level may be the start of a broader collapse. He identifies $80 as the next critical support, with a potential slide to $60 if bearish momentum continues unchecked.
Pizzino’s chart–based analysis reflects a trend reversal in progress, emphasizing the importance of upcoming price action near the $90–$80 zone. A breach
