Solana Price Continues to Slide Amid Bear Market Fears

Solana's (SOL) price has continued to slide, falling around 18% over the past week according to CoinMarketCap data. The drop is not specific to Solana, as a broad risk-off turn is affecting crypto markets. Analysts point to thinning liquidity, shrinking spot volumes, and macro pressures tied to expectations of a more hawkish U.S. Federal Reserve.

On-chain activity, however, remains strong. Solana has logged record transactions per second and led peers in wallet activity this week, according to the Solana Foundation. The network's median fees and throughput have also outperformed Ethereum and other major networks.

The divergence between on-chain metrics and price action has sparked debate over whether SOL is approaching a bottom or faces further downside. Analysts are divided, with some seeing early signs of a reversal due to increased retail trader interest, while others warn of a slide toward the $45, $50 range if selling pressure persists.

Despite the bearish trend, longer-term forecasts remain optimistic. Standard Chartered analyst Geoff Kendrick projects SOL reaching $2,000 per token by 2030, citing the network's role as infrastructure for payments and financial services.