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17 hour ago
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BEARISH 📉 : Solana price drops below $100 amid selling pressure

Solana Faces Selling Pressure, Price Drops Below $100

  • Solana price fell below $100, reaching a low of $98, marking its lowest in nearly ten months.
  • The token has extended losses by nearly 20% over the past week and about 25% for the month.
  • Trading activity decreased, with both spot volume and derivatives participation declining.
  • Overall market weakness and macroeconomic concerns, such as tighter U.S. monetary policy expectations, contribute to bearish trends.

Solana Chart

Technical Analysis Indicates Lower Support Levels

  • Solana's price pattern shows lower highs and lows, remaining below short-term moving averages.
  • Bollinger Bands indicate ongoing downward momentum with Solana near the lower band.
  • The relative strength index is around 25, indicating oversold conditions but not a trend reversal.
  • Key support levels are at $95, $92–90 zone, $85, and $80, suggesting potential areas for price stabilization.

Fundamentals Show Continual Network Activity

  • Despite price declines, Solana's network metrics remain strong with rising transaction counts and stablecoin usage.
  • Institutional interest is mixed, with January inflows balanced by recent ETF outflows.
  • To alleviate bearish pressure, Solana needs to surpass $110 and maintain above key moving averages.