Summary
Solana (SOL) was US$114.73, down 1.93% over 24h, per CoinMarketCap's own page data. CMC AI's price-analysis TLDR: Solana is down 2.57% to $115.34 in 24h, closely tracking a broader market pullback as Bitcoin fell 2.58%. The primary driver is macro-driven selling pressure, with secondary pressure from a technical rejection after hitting a yearly high. 1. **Primary reason:** Broader market beta, as SOL moved in lockstep with Bitcoin amid rising Treasury yields and Fed rate-hike concerns. 2. **Secondary reasons:** Technical rejection at the $120 resistance level and a cooldown in leveraged buying after a short squeeze. 3. **Near-term market outlook:** If SOL holds above the $114.01 Fibonacci support, it could retest $120 ahead of the Alpenglow upgrade on September 28; a break below risks a drop toward $110.42.