SOL fell nearly 47% from its January 19 high, reaching about $157.25 by February 24.
Investor confidence is impacted by its link to the Lazarus Group, a pending $1.79B token unlock, and reduced futures market activity.
A head-and-shoulders pattern and break below $177 support hint at a potential drop to around $110, though a rebound to $215 is possible if support holds.
Solana Price Performance
Solana Price is losing its gains following Donald Trump’s reelection. On February 24, SOL dropped 7.35% to around $157.25 its lowest since November 6. This is part of a bigger drop that began on January 19. When SOL hit an all-time high of $295.31, and it has since dropped by nearly 47%.
Several factors are bringing the price down for SOL. One of them is the recently reported association of Solana with the North Korean-backed Lazarus Group. Whose numerous hacks and memecoin scams have characterized the network. The association has dented investors’ confidence.
Another issue
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