Solana Drops Below $109 Support, $100 Now the Key Near‑Term Test

Overview

• Solana has moved beneath the rising channel floor and the $109 support cluster that coincided with the 50‑day simple moving average, leaving the token trading below that former support.
• The recent low touched roughly $101.7 and left the round $100 area as the immediate support zone that must hold to prevent a larger decline.
• Short‑term momentum has weakened as the daily relative strength index fell below 50 and price sits under the 50‑day average, which makes rebounds less reliable until those levels are reclaimed.
• Market structure data show concentrated liquidation bands overhead near $109–$111 and additional bands at $106, $104 and $102, and institutional flows swung to about $24.8 million in US spot Solana ETF outflows for the most recent week, reducing near‑term demand.
• If $100 does not hold, chart studies point to support ranges around $92.5–$93.5 and then $85–$87, and traders should watch reclaiming $109 and the daily middle Bollinger band near $116 as the clearest signs a sustained recovery is possible.