Solana (SOL) slipped below the $100 psychological level this week, extending its short-term downtrend as broader crypto markets weakened. As of writing, SOL traded as low as $92.7, down 4.6% on the day and 24.5% over the past seven days. The move mirrors risk-off conditions driven by Bitcoin’s 5% decline to the $73,000 area amid sustained institutional ETF outflows.
Trading volume on SOL spot pairs rose 18% day over day, signaling distribution rather than capitulation. The breakdown below $100 shifts trader focus toward the $90–$95 weekly demand zone, a region that previously attracted buyers during Q3 2025 consolidations.
Why is the $90–$95 zone critical for Solana?
The $90–$95 range aligns with a high-volume node on Solana’s weekly volume profile, meaning significant trading activity previously occurred there. For traders, this matters because such zones often act as magnets for price during corrections and can either absorb selling pressure or fail decisively. According to Invezz.com, if $95 breaks, a drop toward $85 could be the next target.
Solana $SOL tumbled 6% and slipped back under $100 as demand keeps fading, even with a record 150M daily transactions. Traders are piling into shorts, funding rates flipped negative, and OI is falling. If $95 breaks, a drop toward $85 could hit fast ⚠️https://t.co/MItDtjSMUX
— invezz.com (@InvezzPortal) February 4, 2026
On the daily chart, SOL’s 14-day RSI sits at 25.7, approaching oversold territory but not yet signaling a confirmed reversal. The MACD remains negative, with the histogram at -3.3, indicating bearish momentum is still dominant despite slowing downside acceleration.
Source: TradingView
Bitcoin weakness amplifies altcoin downside risk
Solana’s decline is tightly correlated with Bitcoin. Although SOL spot ETF saw $5.58 million inflow, Solana’s price is still volatile. If Solana continues to see ETF inflows during this challenging price period, it could help establish a bottom sooner and position the asset as a frontrunner in the recovery.
?? ETF FLOWS: BTC, and SOL spot ETFs saw net inflows on Feb. 2, while ETH and XRP spot ETFs saw net outflows.
BTC: $561.89M
ETH: – $2.86M
SOL: $5.58M
XRP: – $404.69K pic.twitter.com/xHZdV01rbD— Cointelegraph (@Cointelegraph) February 3, 2026
Bitcoin’s 14-day RSI has dropped to an oversold 23.37, while the weekly MACD is deeply negative, conditions that historically precede relief bounces but do not guarantee immediate trend reversals. Until Bitcoin stabilizes, altcoins like SOL remain vulnerable, reinforcing cautious positioning across the altcoin market sentiment.
Solana’s structure versus Layer 1 peers
From a market structure perspective, Solana is now trading below its 50-day moving average at $108 and well under the 200-day average near $121. Losing these levels shifts the medium-term bias bearish, similar to patterns seen in Ethereum when it began slipping below key support earlier this cycle.
Despite the price weakness, longer-term investors continue to track Solana as a high-beta Layer 1, with some institutions such as ARK Invest still viewing it as Solana as a top pick for diversification. That narrative, however, depends on broader market stabilization rather than isolated token strength.
What could invalidate the bearish setup?
A daily close back above $102 would reclaim broken support and potentially trigger short covering toward the $110 resistance level. Conversely, a high-volume breakdown below $90 would expose SOL to the $82–$85 range, last tested during mid-2025 volatility.
For now, traders are balancing oversold signals against macro pressure from ETF-driven Bitcoin selling. The $90–$95 zone stands as the near-term decision point, where market participants will determine whether Solana consolidates or extends its correction.
Bitcoin Hyper Gains Traction as Layer 2 Hype Grows
Bitcoin Hyper is gaining serious traction during this volatile market , with over $31.5M raised and less than 10 hours left before the next price hike. Bitcoin Hyper includes its own bridge, staking system, and plans for meme coin ecosystems – all powered by its Layer 2 running on Solana’s Virtual Machine (SVM) for high throughput.
With a transparent dashboard, real utility, and a countdown-based price structure, Bitcoin Hyper isn’t just another meme coin – it’s positioning itself as a serious L2 alternative with real-time demand backing it.
