SOLANA PRICE FALLS BELOW $100, REACHING A 10-MONTH LOW WITH SUPPORT AT RISK
Solana’s price has fallen below $100 for the first time in about 10 months, prompting market attention on whether the next support levels can hold.
As selling pressure continues across the broader crypto market, SOL dropped to its lowest level since early 2025. At the time of writing, Solana was trading near $98.03, down 6.3% over the past 24 hours.
This marks the first sustained move below $100 since early April 2025, when Solana briefly dipped under the level before rebounding. The current decline appears more pronounced, with SOL down nearly 20% over the past week and about 25% over the last month.
Trading activity slows as downside pressure builds
Market activity has softened alongside the price decline. Solana’s 24-hour trading volume fell 26% to $7.63 billion, suggesting that the recent sell-off may be losing some momentum.
Derivatives’ data points in the same direction. According to CoinGlass, total derivatives volume dropped 21% to $19.26 billion, while open interest fell 5% to $6.15 billion. This suggests traders are unwinding long positions rather than aggressively opening new short bets.
Macro Pressures weigh on sentiment despite solid network growth
The broader crypto market remains under pressure following a wave of liquidations over the weekend, as highly leveraged positions were forced out amid low liquidity.
Investor sentiment has also been affected by renewed expectations of tighter U.S. monetary policy. Concerns increased after President Donald Trump nominated former Federal Reserve governor Kevin Warsh as the next Fed chair, a move widely viewed as hawkish.
Geopolitical risks have added to the cautious mood. Reports of rising U.S.–Iran tensions have pushed investors toward safer assets, weighing further on risk-sensitive markets such as crypto.
Despite the price weakness, Solana’s on-chain fundamentals remain strong. According to crypto news, the network processed more than 2.34 billion transactions in January, a 33% increase, surpassing the combined activity of Ethereum, Base, and BNB Chain.
Institutional interest has also improved. While Bitcoin and Ethereum products recorded net outflows in January, U.S. spot Solana exchange-traded funds saw inflows of $104 million, signaling growing interest from traditional investors.
Solana’s technical outlook remains bearish
From a technical perspective, Solana’s daily chart continues to point lower. The break below the $100 level represents a significant psychological and structural shift, reinforcing the broader downtrend.
SOL remains in a pattern of lower highs and lower lows and is trading well below its declining 20-day and 50-day moving averages. Recent attempts to rebound have stalled near the middle Bollinger Band, suggesting sellers still dominate even during brief rallies.
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The Bollinger Bands have widened, with price action hugging the lower band, indicating strengthening downside momentum. Momentum indicators remain stretched, with the daily relative strength index near 25, placing SOL deep in oversold territory. While this could support a short-term bounce, it does not yet signal a trend reversal.
On the downside, the next key support zone lies around $92–90, followed by $85, which previously served as a consolidation area. If selling pressure continues, $80 stands out as a higher-timeframe support level.
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For bullish momentum to return, Solana would need to reclaim $100 and hold above short-term moving averages. Until then, any price recovery is likely to remain corrective within a broader bearish structure.
