Solana

Major

Test

Strong

<p style="text-align: justify"><a href="https://en.coin-turk.com/solana-foundation-announced-a-new-on-chain-governance-model-requiring-15-active-stake-support-to-initiate-network-votes/" rel="noopener noreferrer nofollow">Solana</a>, a blockchain platform known for its high-throughput capabilities, is facing renewed selling pressure as the price of its native token, SOL, trades near $100. Technical analysts are expressing concerns that a sustained breach of this level could trigger a further decline toward $80, representing a potential 20% loss.</p>
<h2 id="solana-s-100-support-faces-a-major-technical-test">Solana’s $100 Support Faces a Major Technical Test</h2>
<p style="text-align: justify">SOL has lost about 14% in October, falling behind major cryptocurrencies like <a href="https://en.coin-turk.com/larry-fink-warns-of-inflation-risks-linked-to-nationalist-economic-policies/" rel="noopener noreferrer nofollow">Bitcoin</a>, <a href="https://en.coin-turk.com/fidelity-digital-assets-warns-ai-may-not-drive-blockchain-value/" rel="noopener noreferrer nofollow">Ethereum</a>, and XRP over the same period. The recent dip below $100 has tested a key support zone that previously attracted significant buying interest.</p>
<p style="text-align: justify">Since August, analysts have been tracking a head-and-shoulders formation, a classic bearish chart pattern. This structure began with a left shoulder near $111, followed by a surge to $125 forming the head, and a right shoulder projected around $115. The so-called neckline, considered the point of confirmation, sits close to $100.</p>
<p style="text-align: justify">A daily close beneath the $100 neckline, particularly if accompanied by higher trading volumes, would reinforce the signal for a move toward $80. Market observers note that similar weakness was seen during earlier tests of the $100 level in September, when the $80–$85 region emerged as a key lower target.</p>
<p style="text-align: justify">Additional technical support is identified near $98, with further downside potential targeting $93-$96. Failure to hold these levels could bring SOL’s longer-term moving average around $88 into play, setting the stage for a possible test of $80 in the event of accelerated selling.</p>
<blockquote>
 <p>Technical analysis indicates that “a decisive daily close below $100, especially with heightened selling volume, could reinforce a move toward the $80 mark,” according to market perspectives shared over recent sessions.</p>
</blockquote>
<p style="text-align: justify">Despite occasional recoveries above $100, analysts caution that these rebounds do not guarantee a repeat, especially under prevailing bearish momentum.</p>
<h2 id="solana-etfs-face-outflows-amid-improved-network-metrics">Solana ETFs Face Outflows Amid Improved Network Metrics</h2>
<p style="text-align: justify">Institutional appetite for Solana is waning alongside the decline in price. Over the past week, US-listed Solana exchange-traded funds (ETFs) saw net outflows totaling approximately $17.3 million, marking the third straight week of redemptions. Preliminary data for October 26 also pointed to an additional $8.2 million withdrawn, with some funds still to report.</p>
<p style="text-align: justify">This reversal comes after a period of international ETF expansion, during which Solana gained broader access to new institutional investors while American ETFs began to experience withdrawals.</p>
<p style="text-align: justify">In contrast, Solana’s core network metrics have shown strength. The number of addresses holding tokenized equities has climbed to 1.5 million, a fivefold increase since August. However, not every address corresponds to a unique investor, and the growth in tokenized stock adoption does not directly reflect buying demand for SOL itself.</p>
<p style="text-align: justify">The network also recently implemented the Alpenglow upgrade, decreasing transaction finality to roughly 150 milliseconds. This advancement further positions Solana as a high-performance blockchain while failing to fully offset short-term market risks.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Alpenglow upgrade, a Solana network upgrade aiming to reduce block finality times and improve throughput, allowing transactions to be confirmed in about 150 milliseconds on average.</p>
<h2 id="short-term-weakness-versus-long-term-targets">Short-Term Weakness Versus Long-Term Targets</h2>
<p style="text-align: justify">The bearish outlook for SOL focuses on its struggle to maintain $100 support. Should SOL remain below $97–$98, the next technical levels include $93-$96 and $88, ultimately targeting $80 in case of persistent selling.</p>
<p style="text-align: justify">A recovery above $105-$110 could offer some relief for buyers, and a break above $115 would further weaken the head-and-shoulders pattern’s influence. An even stronger breakout past $125-$130 could shift sentiment away from the bearish scenario.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Key Support/Resistance</th>
   <th>Short-Term Outlook</th>
   <th>Scenario</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>$100 (Neckline)</td>
   <td>Critical support</td>
   <td>Breach signals downside</td>
  </tr>
  <tr>
   <td>$97–$98</td>
   <td>Immediate backup support</td>
   <td>Failure risks further decline</td>
  </tr>
  <tr>
   <td>$93–$96</td>
   <td>Secondary support</td>
   <td>Next target if breakdown continues</td>
  </tr>
  <tr>
   <td>$88</td>
   <td>Longer-term moving average</td>
   <td>Potential target after further losses</td>
  </tr>
  <tr>
   <td>$80</td>
   <td>Technical target</td>
   <td>Main bearish goal</td>
  </tr>
  <tr>
   <td>$105–$110</td>
   <td>Initial recovery zone</td>
   <td>Could reduce bearish momentum</td>
  </tr>
  <tr>
   <td>$115</td>
   <td>Major resistance</td>
   <td>Break weakens bearish pattern</td>
  </tr>
  <tr>
   <td>$125–$130</td>
   <td>Strong resistance</td>
   <td>Break confirms bullish reversal</td>
  </tr>
 </tbody>
</table>
<p style="text-align: justify">Meanwhile, Standard Chartered, a major international bank, has maintained its year-end SOL price target of $250, showing the divide between current short-term technical risks and longer-term institutional optimism.</p>
<blockquote>
 <p>Recent analysis highlights the contrast between the $80 short-term risk for SOL and Standard Chartered’s much higher $250 long-term target for the token.</p>
</blockquote>
<p>The post <a href="https://en.coin-turk.com/solana-risks-20yuzde-drop-as-sol-tests-100-support-etf-outflows-rise/" rel="noopener noreferrer nofollow">Solana risks 20% drop as SOL tests $100 support, ETF outflows rise</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Solana risks 20% drop as SOL tests $100 support, ETF outflows rise

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