Solana (SOL) Rebounds to $96 After Losing the $100 Threshold

Solana Slides Under $100 Threshold

The Solana (SOL) price gave way under $100 on November 4, the retreat from October's $124 peak stretching to $92.69 before the session closed. The breakdown left the asset trading beneath every major moving average on the daily chart, a configuration that kept sellers in control of the short-term structure. More damaging still was the loss of the $98 zone, the floor that had held throughout September's recovery, and rising trading volume gave the decline added technical weight. Volume behavior matters here: heavier participation on the way down marks active distribution rather than a thin-liquidity drift, which is why the move reads as more than a routine pullback. The October peak itself capped a strong September run, and each lower step since has widened the distance back to it, with the reversal taking roughly a quarter off that high. For the token of a high-throughput Layer 1 blockchain protocol, the current read is purely structural, with chart position and volume setting the tone while fee demand and staking flows play no visible role in the move. Live readings have since softened the blow. COINOTAG's live monitoring puts Solana (SOL) at $96.06 early on Thursday, up 0.4% since the overnight session that began at 01:26 UTC and 4.5% higher across 24 hours, though the token still trades short of $100. The $98 to $100 band now stands as the nearest area buyers must reclaim, and while price holds beneath it the weaker outlook persists. A break under $90 would bring $85 and then the $80 band into play, whereas reclaiming $100 would count as the first concrete sign that buyers are regrouping. The slide lands on top of an already poor stretch for the asset: our earlier Solana coverage shows SOL fell 19.7% in a month after the Binance hack, and sellers have held the upper hand since.

The rebound is running straight into layered supply. COINOTAG's composite support and resistance scoring rates the $97.85 resistance at 100 out of 100, the strongest single level on the board, because the 20-, 100- and 200-day EMAs converge there with the R1 pivot; Solana (SOL) at $96.06 must clear it before any run at $100. Below, a stronger floor sits at $89.24, scored 70/100. Momentum agrees with the cautious read: RSI prints 38.09, the MACD signal is bearish and the trend label remains down. Derivatives positioning stays muted, with funding at 0.0049% and open interest near $2.04 billion, so the bounce has not yet been leveraged up; a daily close above $97.85 would change that picture.

Ethereum, NEAR and Zcash Trace the Same Weakness

The weakness stretches across the wider altcoin market, and the peers in the same cohort tell one converging story. Ethereum (ETH) turned away from the $2,750 to $2,800 range in early October and has since printed lower highs and lower lows; it traded near $2,317 on November 4 after a limited recovery from the $2,200 region and remains below the $2,400 to $2,500 cluster of short-term averages. A durable recovery there requires acceptance above $2,350 and then $2,400, with supports at $2,250 and $2,200 guarding the path to a deeper correction toward $2,100. NEAR Protocol slid from roughly $6 in October to $4.02, stuck beneath the $4.30 to $4.60 resistance band yet still above its long-term averages near $3.65 and $3, a combination that leaves the broader structure intact; the nearest supports lie at $3.80 and $3.65. Zcash is the cohort's relative outperformer: it bounced from about $1,150 to $1,288 and is retesting $1,300, an edge it failed to clear several times through October, though limited volume means the move needs confirmation through $1,350 and then $1,400. Momentum readings line up: Solana (SOL) and NEAR are approaching oversold territory, Ethereum's indicator has flattened in a way that allows selling pressure to ease, and Zcash has recovered toward the neutral 50 level without a confirmed turn. Ranked against that set, Solana sits among the weakest: near oversold, with the $98 to $100 band overhead and no confirmed reversal yet on the daily chart. For readers weighing entries into the drawdown, our guides cover how to buy Solana in the US, while the fuller level map sits in our regular Solana technical analysis.