Solana Price Crash to $75 Imminent Even as US Company Accumulates $4.6M SOL

In an uptrend, Janover, a software company acquiring $4.6M Solana (SOL) would skyrocket prices. However, bear market dampens this bullish development, leaving Solana price to crash below $100 and retest $75, a level not tagged since December 2023. Janover Purchases $4.6M Solana (SOL) In a recent filing, Janover, a small US-based software company, announced the acquisition of Solana (SOL) to its treasury as part of its new strategy. This US institution follows MicroStartegy’s (Strategy) path as it raised $42M through a private offering of convertible notes. As a result of this move, the company’s stock price soared more than 429% in the past four days. Solana price, however, didn’t budge and is likely due to the ongoing bearish outlook involving Trump’s tariff trade war , Bitcoin’s (BTC) bearish market structure and macroeconomic uncertainty. Janover Stock Price Skyrockets 429% as it adds $4.6M SOL to its treasury. Due to these conditions, the Solana price could see a further collapse. Solana Price Analysis: SOL Collapse to $75 Likely From the three-day chart, it is clear that Solana price has shattered the $126 key support level. SOL’s value hovers around $116 after a 2.13% drop today. This barrier provided demand since March 4, 2024, and prevented the token from collapsing. However, a March 29 sell-off flipped this support into a resistance level. Subsequent attempts to overcome this level have failed, but the $100 psychological level is what’s preventing SOL price from collapsing lower. If the crypto market outlook does not improve or if Trump lifts the 90-day tariff pause, this $100 level will also flip into a resistance. In such a case, the next strong demand area is $74.94. After a consolidation here in December 2023, Solana price exploded nearly 78% in the next nine days. Hence, a revisit of $75 is likely based on this Solana price prediction in the next few days, especially if the crypto market outlook continues to worsen. SOL/USDT 3-day Chart To conclude, sub-$100 Solana is not unlikely if the crypto market outlook remains the same. If Bitcoin catalyzes a bullish reversal, it could provide relief to altcoins, including SOL. In such a case, the price could push toward $126, flip it into a support floor, and allow it to catapult toward the $127 to $168 value area and its highest volume level at $142. The post Solana Price Crash to $75 Imminent Even as US Company Accumulates $4.6M SOL appeared first on CoinGape .

Source: CoinGape