Solana (SOL) Down 19.7% in a Month After Binance Hack

Down 19.7% While Peers Lost Less

The Solana (SOL) price has dropped 19.7% over the past 30 days, the steepest decline among the leading digital assets, even after a rebound that lifted the token back toward $96. Bitcoin lost 6% in the same window, Ethereum 10.1% and XRP 12.5%, which leaves SOL's drawdown at more than three times Bitcoin's and has pushed the wider altcoin market deeper into the red.

• Solana (SOL): -19.7% over 30 days
• XRP: -12.5%
• Ethereum (ETH): -10.1%
• Bitcoin (BTC): -6%

The decline came in two stages. Solana (SOL) began October near $121 and slid to roughly $102 by Oct 28, a stretch in which the VIX, the volatility gauge for US equities, climbed from 15.5 to 20.8 and cooled appetite for risk across the board. The decisive shock landed on Oct 29, when the Binance hack put a large cache of digital assets into an attacker's hands, disrupted trading and set off a chain of forced exits from leveraged futures positions. SOL dropped into the $95 area in the aftermath and on Nov 2 touched $91, its lowest print of the past month, a slide that deepened FUD around exchange security and kept sellers in control. Trading has steadied since. In the latest session the token dipped as low as $90.03, brushed the round-number $90 line and then recovered, and SOL now changes hands near $96.06, up 2.8% over 24 hours. Even so, the asset sits 67% below the all-time high of $293 it set in January 2025, and the intraday low came within a few dollars of the 200-day moving average near $89, the level technicians treat as the main line of defense. The gap against peers reflects how quickly both a macro swing and an exchange-specific shock compounded on the same asset.

Spot ETF Inflows Fell to Zero

Institutional demand has yet to return. Aggregate flows data shows that the US-listed spot Solana (SOL) ETFs took in exactly $0 in net inflows on Nov 3, with the complex's total net assets standing at about $1.38 billion. The stall matters because new institutional capital reaches SOL chiefly through that channel, so each rebound currently unfolds without the bid that longer-term money provides. Technicals point the same way. The 20-day simple moving average sits near $101 and the 50-day near $109, both above the market, which keeps the short- and medium-term downtrends intact. The full Solana technical analysis breakdown puts the 200-day moving average, close to $89, as the main support band: a break of the recent $91 low would likely send the price down to test it, while a firm reclaim of $101 could pull short-term buyers back and set up an attempt at $109. Volume does not yet confirm a bottom. The Nov 2 test of $91 printed roughly 953,000 tokens of turnover, a fraction of the 6.2 million-plus daily volume recorded during the February crash, so the market never showed the capitulation in which sellers exhaust themselves. That is the signature investors who want to know how to survive a crypto crash usually wait for before adding risk, and it has not appeared. It also leaves the bounce open to the squeeze explanation: much of the recent lift may have come from forced buy-backs of short positions rather than fresh cash. Forced buying can lift a price for a session, but sustained gains need spot demand, whether from institutions returning through ETFs or from market makers willing to hold bids. Until one of those sources shows up in the flows, the recovery has little to stand on.

Long Accounts Outnumber Shorts 3.51 to 1

Live data puts Solana (SOL) at $96.06 with a market cap near $56.4 billion, and the structure on either side of that price is tight. The nearest strong resistance band sits at $97.96, scored 92/100 by the composite support and resistance model, and the latest session's high of $97.98 stalled almost exactly there. Below, the densest support is $91.34, scored 100/100, where the Bollinger lower band, the Fibonacci 0.618 retracement and the Keltner channel meet; behind it waits the $88.66 shelf by the 200-day average. Momentum stays defensive, with the RSI at 38 and the MACD signal bearish. The crowded side is long: the long/short account ratio reads 3.51, or 77.8% of accounts, while funding of 0.0034% keeps leverage cheap. The reading flips if either bound breaks: a sustained move above $102.76 with resumed ETF inflows would validate a trend turn, while a loss of $91.34 would turn the long-heavy base into fuel for a test of the lower shelf.