In June 2025, Solana (SOL) saw a 20% price drop, falling from $185 in May to approximately $148. This decline was triggered by rising geopolitical tensions, specifically Israeli airstrikes on Iranian nuclear facilities in mid-June (Source: Text 1).
The strikes, which resulted in the deaths of key Iranian military leaders, intensified regional instability. This led to a surge in oil prices and market uncertainty, negatively impacting cryptocurrencies. Technical analysis showed Solana forming a bearish Head and Shoulders pattern (Source: Text 1).
The breach of the pattern's neckline suggested a potential downtrend, with a target price around $106.30. As of June 22, 2025, Solana's price continues to be under pressure due to market concerns over geopolitical developments (Source: Text 1).