February 2 News, Solana (SOL) price fell below the $100 psychological level on Monday, continuing a downward trend of over 15% in the past week. After encountering resistance at the weekly resistance level of $126.65, SOL has remained under pressure and is currently fluctuating between $99 and $104. The market is closely watching the $95 level, which is seen as a key support determining the short-term direction.
Derivatives data reflect a clear bearish sentiment. The OI-weighted funding rate has turned to -0.0080%, indicating that shorts are paying longs, suggesting more traders are betting on further decline. The long-short ratio has dropped to 0.97, also pointing to the dominance of bearish forces. Signs of cooling are also evident at the institutional level, with Solana-related ETFs recording approximately $2.45 million in net outflows last week, marking the first weekly negative flow since launch.
From a technical perspective, if the daily closing price continues to stay below $100, it could trigger a new round of selling. The first target is around $95. If this level is broken, $79 could become the next significant support. The current RSI is only 25, in the extreme oversold zone, indicating concentrated selling pressure but also the potential for a short-term rebound. Since mid-January, the MACD has experienced a bearish crossover, with the negative histogram continuing to expand, suggesting the short-term trend remains weak.
In terms of price structure, the $100 to $105 range has repeatedly formed rebounds over the past year and now serves as the last line of defense for bulls. Support levels below include $98 and the $90 to $92 zone. If a rebound occurs, a volume breakout above $110 to $115 is needed to ease downward pressure, while $126.65 remains a strong medium-term resistance.
The weekly chart shows that SOL has broken below the sideways trading range since November 2025, turning the technical pattern bearish. The current Fibonacci support zone of $95 to $100 has become the focus of the bulls and bears. If this support is lost, the price could drop to the $80 to $85 range. Short-term market volatility is intensifying, and the $95 level is now a critical watershed for determining SOL’s next phase of movement.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
This week, the US Ethereum spot ETF saw net outflows of $60 million, while the Solana ETF saw net inflows of $20.4 million.
Gate News Report: On March 21, according to Farside monitoring data, US Ethereum spot ETFs recorded cumulative net outflows of $60 million this week, while Solana spot ETFs recorded cumulative net inflows of $20.4 million.
GateNews56m ago
Solana Whale Unlocks $163 Million Stake at Once - U.Today
Solana experienced a significant unlock of over 1.8 million SOL tokens valued at $163.86 million, potentially impacting its price stability around $90. This move may increase circulating supply, while mixed price action follows recent volatility.
UToday1h ago
BTC Price Prediction Heats Up While Solana Expands and APEMARS Emerges Among Best Altcoins to Inv...
Crypto markets are heating up again as investors search for the best altcoins to invest while Bitcoin’s next move sparks fresh speculation. Traders are closely watching the latest BTC price prediction trends and Solana’s growing ecosystem, both of which are driving renewed excitement across the mark
BlockChainReporter5h ago
GalaChain launches ecosystem expansion plan, GalaSwap supports the integration of assets from Solana, TON, and Ethereum
Gate News reports that on March 21, Gala Games officially announced the launch of GalaChain's ecosystem expansion plan. Its decentralized exchange GalaSwap now supports bridging tokens from the Solana, TON, and Ethereum ecosystems onto the GalaChain network. According to the official statement, this move will enable cross-ecosystem asset access and interoperability, activate the community, and enhance the visibility of various project tokens.
GateNews8h ago
Solana Foundation Chairman Lily Liu Declares "Blockchain Gaming Is Dead," Total Market Cap Drops 87%
Solana Foundation Chair Lily Liu claimed on X platform that "blockchain gaming won't come back," sparking heated discussion in the GameFi circle. The market value of crypto games plummeted from a 2022 peak of $35 billion to $4.5 billion, a decline of 87%. She pointed out that games prioritizing earning mechanisms over gameplay itself caused the market to gradually shrink, while responses within Solana vary, with some projects still adjusting to seek survival.
動區BlockTempo13h ago
Solana Foundation Chair: Blockchain gaming is dead and will not return
Solana Foundation Chair Lily Liu stated that blockchain gaming will not make a comeback, citing the example of Mark Zuckerberg's Meta abandoning its metaverse vision after investing $80 billion, although Meta's strategy did not explicitly involve blockchain.
GateNews15h ago
