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
Royaltiz's first athlete token launched, Eduardo Camavinga as the flagship case
Blockchain platform Royaltiz launched the ROY token related to French football star Eduardo Camavinga on March 9 on Solana, marking the on-chain tokenization of athlete assets. Royaltiz aims to transform fan relationships into economically valuable holding behaviors, with token value linked to the athlete's cultural influence and social interactions, leveraging Solana's technological advantages to provide liquidity for users.
MarketWhisper43m ago
Solana ETF defies the trend and attracts funds: SOL has fallen over 30% this year, but institutional funds continue to invest
Although Solana's price has fallen more than 31% this year, its spot ETF still attracted a large influx of funds, totaling approximately $1.5 billion, indicating strong interest from institutional investors. Despite recent outflows, the overall amount remains close to $960 million, and the market has widely discussed this phenomenon, believing that the main driving force is long-term investment confidence.
GateNews1h ago
Solana News Today: Stablecoin Transfers Reach 650 Billion, Surpassing Ethereum, Infrastructure Role Elevated
In February 2026, Solana's stablecoin transfer volume reached $650 billion, surpassing Ethereum and TRON, indicating a shift from speculation to real-world applications on its network. Solana's low transaction fees, fast confirmation times, and high throughput are its main competitive advantages, signaling its growth potential in DeFi and payment scenarios. Technically, the key support level for SOL is $80, with resistance at $92.
MarketWhisper2h ago
Wall Street institutions invested $540 million in the US Solana ETF in Q4 last year.
Wall Street institutions invested over $540 million in the US spot Solana ETF in the fourth quarter of last year, with Electric Capital Partners and Goldman Sachs ranking as the top two. Despite the market value of the SOL tokens corresponding to the holdings dropping by over 30%, since October last year, the Solana ETF has seen a total inflow of $952 million.
GateNews2h ago
Solana ETF attracts $1.45 billion, surpassing Bitcoin in market capitalization after adjustment
Since its launch in July 2025, the Solana ETF has attracted approximately $1.45 billion in capital, even as the SOL token has fallen by 57%. Institutional investors continue to flow in, demonstrating confidence in the long-term potential of the Solana ecosystem. Adjusted for market capitalization, the ETF's capital inflow is equivalent to twice that of the Bitcoin ETF, indicating a strong relative demand for funds. Changes in the supply structure may impact market circulation and price dynamics.
MarketWhisper2h ago
