Solana price has fallen below $70 for the first time since 2023, reaching a low of $68 on Friday. This marks a significant 20% decline this week. Technical analysis indicates that bears are taking over, and the lowest possible target SOL could hit is $50.
In the meanwhile the Bitcoin price has fallen by 9% and is trading below $67K.
The entire cryptocurrency market is undergoing a decline, and major tokens, such as ETH, ADA, DOGE, and XRP, are all below crucial support.
Crypto Fear and Greed Index Drops to 5 Amid Market Chaos
The Solana has entered a period of severe turbulence, with over $300 million in long positions being liquidated within the past 24 hours.
The biggest liquidation was a whopping $6.69 million at a price of $73. The crypto market capitalization has decreased by 3.21% to reach the current level of 2.29 trillion. Bitcoin experienced the highest liquidations of $1.23 billion.
Crypto Fear & Greed Index has plummeted to a horrible index of 5, the lowest since the FTX collapse. This massive fall in the mood has created panic and defensive positioning among investors, leading to the intensification of the volatility.
Solana Treasury Companies Struggle as SOL Drops 40%
Solana treasury companies are facing significant losses following a 40% drop in SOL’s price over the past month. Forward industries experienced a drop of 64%, and Solana Company fell by an estimated 65%.
Other firms such as DeFi Dev Corp, Sharps Tec,h and Upxi incurred losses of 42%, 68% and 47% respectively. As of February 5, 2026, the biggest treasury company is Forward Industries, but all companies are going through a downturn.
Will Solana Price Fall to $50 as Selling Pressure Mounts?
The latest SOL price dropped to $83.40, marking a significant dip after recent fluctuations. This negative trend has cast doubt on the short-term prospects of the SOL. Recently, the Solana price broke the $100 resistance level, but it appears that it is currently experiencing additional selling pressure.
The support level at $80 is currently critical to SOL. In case the Solana price falls below this rate, then the risk is that the coin will keep on falling, and the next big support will be 70. But in a more drastic case, the SOL price may be moving towards the $50 price; this will be an extreme breakdown.
Conversely, a bounce above $85 could offer hope for a rally, targeting the $90 to $100 range for Detailed Solana price analysis.
The Moving Average Convergence Divergence (MACD) is exhibiting a negative momentum. The MACD lines are still in the red, which means that traders are still bearish. Moreover, the Chaikin Money Flow (CMF) remains below zero, which proves the fact that the selling pressure is prevailing over the buying interest.