Overview
- Solana fell to about $98, marking its first sustained break below $100 since April 2025 as weekly losses neared 20% and derivatives data pointed to long unwinds rather than fresh short build-up.
- Chart signals remain negative with price below declining moving averages and a multi-year head-and-shoulders pattern confirmed under a neckline near $109.
- Analysts spotlight the $95–$100 band as pivotal support, with follow-on levels at $92–$90, $85, and $80 and some projections extending to $78 or even $64 if weakness persists.
- Short-term recovery would require reclaiming $100 and then $110–$115, while some trading strategies continue to favor selling bounces toward the $120 area.
- Broader market stress, including weekend liquidations, hawkish perceptions tied to Kevin Warsh’s Fed chair nomination, and U.S.–Iran tension, contrasts with reported Solana network strength and roughly $104 million of spot ETF inflows in January.