Solana price hovers below $130 after a 65% drop from $295, sparking dead cat bounce fears. Despite strong fundamentals like Janover’s SOL purchase and booming DEX activity, will SOLUSDT tank to $65?
In just under three months since surging to $295, Solana is down by over 65%, shattering investor hopes, including holders of some of the best Solana meme coins. SOLUSDT is now trading below $130 and has been moving sideways for weeks. Support lies at April lows around $95, with resistance at $150.
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SOLUSDT Steady, But Is This a Dead Cat Bounce?
Even as SOL prices find support at spot rates, one analyst on X remains skeptical of the upward momentum.
(Source)
In a post, the trader noted that despite recent gains pushing SOLUSDT from $95 to $135, the downtrend persists.
If sellers maintain pressure from current levels and SOL bulls fail to break $130, prices are highly likely to drop below $95, or April 2025 lows, to $65. The analyst added that this is where SOL may eventually find support.
In his analysis, the analyst observed that Solana is retesting a breakout zone. If the breakout is confirmed, sellers could drag the coin to $65.
From a technical perspective, despite trader optimism for SOL to climb back to $295 and align with Q4 2024 gains, sellers remain dominant.
In three months, sellers have fully reversed gains posted in November 2024. The climactic surge, driven by meme coin demand, marked the end of the bullish cycle.
This upward move was fueled by the launch of TRUMP and MELANIA meme coins on Pump.fun, the Solana meme coin launchpad.
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Will Janover, OpenSea, And DEX Activity Support Solana?
Despite this cautious outlook, fundamentals remain strong, and SOL remains one of the best cryptos to buy.
Following a strategic move, Janover, a public real estate company, is purchasing Solana and adding it to its treasury. The firm recently acquired $10.5 million worth of SOL, increasing its reserve to over 163,000 SOL.
After board approval, Janover first purchased the coin on April 4, 2025.
The firm is buying SOL for long-term investment, not speculation. From their haul, Janover will stake SOL via Kraken, delegating tokens to Janover-run validators, earning yield.
Moreover, ahead of its SEA launch, OpenSea announced Solana token trading support for closed beta users, with plans to add Solana NFT support soon. The team described this as a “major milestone in their multi-chain journey.”
Solana token trading is now live on OS2 for some closed beta users & will be rolling out to more in the coming weeks.
This is a big milestone in our multi-chain journey. Solana has some of the most passionate users and builders in web3.
Coins first, NFTs coming later. Most… pic.twitter.com/Bj1Tka98Le
— OpenSea (@opensea) April 14, 2025
On-chain metrics also point to growth. Despite a bearish market, decentralized exchanges (DEXes) on Solana are the most active, averaging over $2.5 billion in daily trading volume.
(Source)
Solana Price Recover: A Dead Cat Bounce Before $65
- Solana price capped below $130, down 65% from 2025 highs
- Is the SOLUSDT bounce from $95 to $135 a dead cat bounce?
- Solana ecosystem booming with Janover and OpenSea support
- DEX activity is also growing, a sign of strength?
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