Solana (SOL) Rebounds From $100.62 Low to Near $106, MACD Still Bearish

Back Above $100 After a $100.62 Low

Back above $100, the Solana (SOL) price spent Thursday, October 15, recovering from an intraday low of $100.62, the token's weakest print of the session. At the latest reading Solana (SOL) changed hands at $105.92, up 1.5% on the day and barely moved since the afternoon update, after trading a range of $100.62 to $106.51. The rebound put clear distance between the token and the psychological $100 mark, although SOL remains roughly 14% below its late-September peak near $124.

The drop to $100.62 capped a slide that began in early October, when SOL lost a trading range around $118–$122 and started printing a sequence of lower highs and lower lows. Selling accelerated on the 4-hour chart once the token slipped beneath $116, and a second leg carried it from roughly $112 down toward the $100 threshold inside the same breakdown, a move tracked in our ongoing Solana coverage. Flows added to the pressure: U.S. spot Solana ETFs recorded $1.29 million in net outflows on Wednesday, October 14, an eighth consecutive session of withdrawals, and demand through the products stayed thin as SOL slid toward $100. The redemption run marks a turn in product demand; the funds had been riding a 14-week inflow streak before redemptions took hold earlier this month. Even at Thursday's low, the native asset of the layer 1 blockchain protocol held above the $70–$90 base that framed its summer bear market, so the pullback erased part of the August–September advance without revisiting that consolidation. The $100 line now functions as the session pivot: Thursday's dip stopped just $0.62 above it, while the recovery to $106 restored the buffer a break would have erased. Momentum readings did not confirm the bounce, leaving the recovery short of technical confirmation.

Our composite support and resistance scoring grades the nearest floor at $102.76 a full 100/100, with the first overhead ceiling at $107.56 graded 71/100. The relative strength index reads 40.91 and the daily MACD signal stays bearish, so our own gauge agrees with the chart: the trend is sideways, not a confirmed reversal. Derivatives positioning is quiet as well. Open interest sits at $2.18 billion and the perp funding rate at 0.0062%, close to neutral, which says leverage has not piled into the bounce. A sustained push through $107.56 would give the recovery its first clean confirmation, while losing $102.76 would hand the initiative back to sellers; the full level map sits in our Solana technical analysis.

Resistance Stacks From $109 to $115

The daily chart still leans defensive. Bollinger bands put the lower boundary at $102.83, the 20-day simple moving average at $114.95 and the upper band at $127.07, leaving the bounce about 7.6% below the midpoint. The daily MACD line stands at −1.07 against a signal line at 0.95, with the histogram at −2.03, and both lines turned lower after the September advance; Thursday's rebound therefore arrived without a bullish crossover. On the 4-hour chart, moving averages stack overhead at $109.21, $112.67 and $114.43, and the Chaikin Money Flow reading of −0.02 has only just lifted out of deeper negative territory.

In an October 15 assessment, analyst Aman flagged the $97–$99 zone as the support that needs to hold after Solana (SOL) broke an ascending trendline, and set a conditional downside target of $75–$77 if that floor fails. His lower scenario stays dormant as long as the token trades above that band, which Thursday's recovery left it doing. The weakness built on an earlier slide, when SOL slipped 9% in seven days near $107 before attention turned to the Alpenglow upgrade. Liquidation data frames both sides of the market: clusters of leveraged positions sit around $100–$101 below the market and around $105–$107 at the rebound zone, larger bands extend overhead through $110–$115 and near $123–$125, and a further concentration around $96–$97 overlaps the analyst's support area. For the recovery to build, the path runs from holding the bounce above $102.76 through $109.21 and the $112.67–$114.95 band, which would put the former $120–$124 range back in reach. A renewed loss of $100.62 flips that map, with $97–$99 the next test. SOL's $105.92 print sits between the composite floor at $102.76 and the $107.56 ceiling, and it is the floor, backed by the $97–$99 band beneath it, that has to hold for the bounce to survive.

@Im_Aman2 · X post

An October 15 assessment.

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