Solana (SOL) Price Subsidies Below $100 Downside Risk Intact

Published by
Solana (SOL) Price Subsidies Below $100 Downside Risk Intact

Solana’s (SOL) price remains under selling pressure for the second straight day. SOL faces multiple resistance pressure near $113.10. Investors could open fresh short positions below 50-DMA at $97.0.

  • Solana (SOL) price extends losses for the second day.
  • Expect more downside pressure in the token.
  • Demand support emerges near $80.0.

At the press time, SOL is changing hands at $94.95, down 4.50% for the day.  The 24-hour trading volume stands at $3,288,246,461 with a rise of almost 2%.

Advertisement

Biggest Hack of Solana and Ethereum blockchains worth $325 million-Wormhole Portal

Blockchain platform Wormhole reported a hacker had stolen more than $325 million worth of tokens on Wednesday. The platform was launched in August with roughly $1 billion in deposited funds.

Source: Trading view

Technically speaking, on the 4-hour chart, the Solana (SOL) price has just breached the 50-DMA at $96.0, which is indicating the intensified selling pressure in the SOL.

Furthermore, the momentum oscillator, the Daily Relative Strength Index (RSI) trades at 40. The RSI forms double support near this level and holds near the oversold zone. However, it still, open trading opportunities for the sellers.

If the price holds the supply zone around $80, which is also the weekly low then a possibility of another leg up would emerge in the pair.

SOL needs to test the psychological $100.0 level to make a convincing U-turn. There is a long way to meet the horizontal resistance line at $120.0.

On the flip side, if the price drops below $90.0 then it would open the gates for the $72.0 levels last seen in August.

Advertisement

Share
Rekha chauhan

Rekha has started as Forex market analyst. Analyzing fundamental news and its impact on the market movement. Later on, develop an interest in the fascinating world of cryptocurrency. Tracking the market using technical aspects.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?

Bitcoin price continues to trade within a defined consolidation range as the broader crypto market…

October 8, 2025
  • Price Analysis

Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B

Solana price pulled back today, Oct. 8, mirroring the performance of the broader crypto market,…

October 8, 2025
  • Price Analysis

XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip

The XRP price continues to draw attention as market analyst, Ali Charts, warns of a…

October 8, 2025
  • Price Analysis

Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?

The BNB Coin price continues to extend its upward trajectory, reflecting consistent market strength and…

October 8, 2025
  • Price Analysis

ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?

The ASTER price has slipped by 2.37% over the past 24 hours, while the HYPE…

October 7, 2025
  • Price Analysis

Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone

Ethereum price could be on the verge of a strong bullish breakout in the coming…

October 7, 2025