Foreign media reports indicate that Solana has recently fallen to around $64, returning to multi-year lows. The article cites CoinGecko data, stating that SOL has fallen nearly 9% in the past 24 hours, a drop of over 58% from June 2025, and a retracement of approximately 78% from its all-time high of $293.31.

Macroeconomic pressures continue to dominate the market.

The article argues that this decline is not a problem specific to any single cryptocurrency, but rather part of a broader trend of pressure on risk assets. Since May 2026, market concerns about US inflation have intensified again. Higher-than-expected inflation data weakened expectations of interest rate cuts, leading to a withdrawal of funds from high-risk assets, weakening the overall crypto market, and dragging down SOL as well.

The article mentions that the renewed escalation of the conflict between the US and Iran has exacerbated investors' risk aversion. If shipping through the Strait of Hormuz is disrupted, oil supplies could be affected, further increasing pressure on the global economy. Against this backdrop, market risk appetite remains low.

The $57 to $59 range is a short-term observation level.

The article also mentions that a number of large US technology and AI companies are pursuing IPOs, including SpaceX, Anthropic, and OpenAI. The author believes that these large-scale financing events may absorb some market liquidity, further compressing the funding space for crypto assets.

From a price perspective, the article considers $57 to $59 as a support zone for SOL. The author states that if the current weakness continues, prices may first fall back to this area before entering a period of consolidation.

$20 is more for remote scenarios

The article also mentions that the last time SOL approached the $20 range was in September 2023. While the title raises the question of whether it will fall to $20, the main text doesn't provide a clear timeline or definitive judgment, instead treating it more as a distant reference point under extreme scenarios.

Despite short-term pressure, the article still describes Solana as one of the mainstream assets that has shown strong resilience over the past few years. After the FTX crash in 2022, SOL once fell below $10, but subsequently hit new highs multiple times in later cycles.

The article argues that SOL could still rebound if the macroeconomic environment improves and market risk appetite recovers. Currently, funds are more inclined towards popular assets such as AI concept stocks, and overall liquidity in the crypto market is tight, which is a key reason why SOL has struggled to stabilize quickly.