Solana (SOL) Tests Support Below Its 100-Day Line With $100 Retest at Stake

Solana Slips Under Its 100-Day Line

Where Solana (SOL) finds its footing this week is still an open question. The Solana price stood at $105.84 on Tuesday, down 5.2% over the past 24 hours, and the move has carried the token beneath the 100-day moving average near $107.50 that had served as the market's first line of support since the start of the month. An average of that length smooths a month of daily closes, so a close beneath it reads as more than routine noise. The retreat follows a strong finish to September, when the token traded close to $125 before sellers took control. The decline turned violent on October 6, when a sharp selloff pushed the price down to $105.50, the lowest print of the correction so far. Buyers absorbed that flush, and every attempt since to press the market lower has stalled inside the same band. That is why the current session carries weight: the October 6 low and the lost moving average together form the decision zone traders are watching. The tape does not yet show conviction on either side. Volume has thinned as the decline stretched on, a combination that describes selling which is orderly rather than panic-driven, with no trace of FUD-style capitulation, but it also says buy-side appetite is limited. On the upside, the $113 to $115 band is where short-term selling pressure has concentrated, capping recovery attempts before they can gain traction. The reading behind these levels treats that band as the trigger: a move outside it, in either direction, should make the next trend clearer. Until a daily close escapes the band or breaks the floor, the short-term direction stays genuinely undecided, and neither the sellers who drove the October flush nor the buyers who defended it have been proven right.

Our composite support and resistance scoring, which grades each level out of 100 by the number of indicators stacked there, puts the strongest shelf under the market at $104.52, scored 100/100. Spot at $105.84 is holding a little more than a dollar above it. Overhead, the first grade of real consequence sits at $115.08, scored 87/100, where the 20-day EMA and a Fibonacci retracement converge. Positioning adds the caution: perpetual funding is slightly negative at -0.0067%, and long accounts outnumber short accounts 3 to 1, an imbalance that would act as fuel for the downside if the shelf gives way.

The October 6 Floor Comes Back Into Play

The session review that first flagged these levels grouped Solana (SOL) with Shiba Inu, Zcash and Stellar as assets boxed inside defined technical bands, a framing that presents the pullback as consolidation across the altcoin market rather than a Solana-specific breakdown. That context matters for how the next move is judged: when large-cap assets compress together, resolution in one tends to follow the broad trend rather than lead it. Thin turnover was the common thread across the grouping, with each asset's short-term outlook shaped by indecisive price action and volume too light to force a break. Readers who want the complete level map, including the shelves below the $100 zone, can follow our dedicated Solana technical analysis coverage. Demand-side variables arrive during the test itself. Pando Finance lists Hong Kong's second spot Solana ETF on October 13, adding a regulated access route for the city's investors at the exact moment the chart is being tested. Whether that listing converts into sustained spot demand is, for now, an untested assumption; the price action so far shows no signature of inflow-driven buying. The drawdown is sizable in percentage terms: roughly 15% separates the late-September high near $125 from Tuesday's level. The observable that would settle the argument is a specific kind of print. A daily close back above the 100-day average near $107.50 would repair the short-term structure and return the $113 to $115 band to the target list. A decisive loss of the $105.50 floor would do the opposite, handing sellers a path toward the $100 zone, where the Ichimoku Cloud top now sits. Until one of those closes arrives, Solana (SOL) stays boxed inside a band about two dollars wide, and the burden of proof sits with whichever side acts on the level first.