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On the morning of April 4, amid a sluggish market following Trump’s tariff announcement, Solana (SOL) plunged to its lowest level in three weeks. Let’s explore the key reasons behind this decline.
Solana Suffers a Sharp Decline
The price of Solana (SOL) has plummeted to $115, marking a steep decline of nearly 12.75% within the past 24 hours, as shown on the daily SOL/USD chart from TradingView. This drop has pushed SOL to its weakest level since mid-March, erasing much of the gains it had accumulated in recent weeks.
Source: TradingView
From a technical analysis perspective, SOL’s daily chart is forming a bear flag pattern—a prolonged bearish signal. SOL is now trading below the pattern’s lower edge, suggesting a potential drop to $96 if no reversal occurs. The price has returned to early March’s key support zone, but selling pressure shows no signs of easing. The bearish outlook is clouding SOL’s near-term prospects, causing traders to feel uneasy.
Massive SOL Unlock Impacts Today
According to Arkham Intelligence, a massive $200M worth of SOL will be unlocked today, April 4, 2025. This is the largest unlock until 2028, involving 1.79M SOL (~$200M USD). This SOL comes from four accounts that staked $37.7M worth of SOL in April 2021, now yielding a 5.5x profit at current prices. This massive release into circulation threatens to exacerbate the already intense selling pressure, particularly as SOL’s price action grows increasingly negative.
For investors, this is a critical moment to exercise caution—experts recommend avoiding high leverage to minimize the risk of liquidation and safeguard accounts amid heightened volatility.
$200M OF SOL UNLOCKING TOMORROW
Tomorrow (4th April) marks the largest single-day unlock of staked SOL until 2028.
These 4 accounts staked a total of $37.7M of SOL in April 2021, and are up 5.5x at current prices. pic.twitter.com/qvKFWxygh9
— Arkham (@arkham) April 3, 2025
Additionally, President Donald Trump’s tariff announcement sparked panic, driving investors from risky assets like SOL to safer options. Not only SOL but also the total crypto market cap (TOTAL) and Nasdaq Composite plummeted, wiping out trillions of dollars. With uncertainty looming, SOL’s struggles mirror a turbulent period for risk assets, as its fate hinges on market sentiment and technical levels.
Read more: A New Memecoin Trend on Solana: $GHIBLI
