Solana recovered to about $106 after testing $100 support on Oct. 15, but negative daily momentum and several overhead moving averages stand in the way of a fuller recovery. An analyst named $97–$99 as the next support zone.
Solana traded near $106.20 after recovering from an Oct. 15 intraday low of $100.62. The rebound pulled the token away from the $100 threshold, yet it remained roughly 14% below its late-September peak near $124.
Weak flows and lower highs
The recovery followed a series of lower highs and lower lows after SOL lost its early-October trading range around $118–$122. Flows into U.S. products stayed soft as well: spot Solana ETFs recorded $1.29 million in net outflows on Oct. 14, their eighth consecutive session of withdrawals.
Daily indicators stay bearish
On the daily chart, the Bollinger Bands put the lower boundary at $102.83, the 20-day average at $114.95 and the upper boundary at $127.07. At $106.21, SOL sat about 7.6% below the middle band.
However, the daily MACD still showed bearish momentum. The MACD line stood at −1.07, below its signal line at 0.95, with the histogram at −2.03 and no bullish crossover.
Moving averages cap the 4-hour chart
On the 4-hour chart, SOL traded slightly above its 20-period simple moving average at $106.11. The other three averages remained overhead: $109.21, $112.67 and $114.43 for the 50-, 200- and 100-period lines.
Analyst Aman identified $97–$99 as a support zone after SOL broke an ascending trendline. He said that area needed to hold to prevent further losses, and he named $75–$77 as a potential downside zone if support failed.
For a broader recovery, the chart-based sequence runs from holding the rebound above $102.83 toward $109.21, then the $112.67–$114.95 resistance area. A renewed loss of $100.62–$100 would leave $97–$99 as the next nearby support test.
Source: crypto.news
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