Solana Slides Below $116 to Roughly $112

Overview

• SOL broke the $116 support level and traded near $112 after the Oct. 8 breakdown, prompting analysts to name $110 and $106 as the next downside targets if buyers fail to reclaim support.
• U.S. spot Solana ETFs swung from heavy September inflows to several early-October outflow sessions, with roughly $17.7 million withdrawn across three days and about $24.6 million out over seven sessions, though the funds still hold roughly $1.8 billion in assets.
• Solana developers report the Alpenglow consensus upgrade is live on devnet and testing across validator clients, with testnet Votor showing median finality around 54 milliseconds, but mainnet activation still requires validators to migrate to updated clients.
• Technical indicators are mixed: the daily Supertrend remains bullish near $107 while short-term momentum and money-flow measures have turned negative, and chart watchers say a daily close above $124–$125 would be a clear breakout that could open a move toward the $148 target some have cited.
• Samsung will enable USDC transfers on Solana for U.S. Galaxy devices starting in the last week of October on about 82 million devices, which could expand on‑chain payments and longer-term demand for Solana services even as short-term price pressure builds.