Victoria Bazir
⬤ Solana's caught in a tight spot after defending the $97–$100 support zone following a brutal selloff. This level's acting as a temporary floor for now, keeping SOL from dropping further after sliding from $120+ down to sub-$100 territory in late January and early February. The price is trying to stabilize just above $100, but it's still early days.
⬤ The chart tells a bearish story leading into this consolidation. After losing $115 and $110, SOL rode the downtrend straight into the $97–$100 zone. Selling's cooled off a bit, but there's no reversal signal yet. If this support cracks, the next stop could be $92–$95—that's where the next demand zone sits.
⬤ Recovery targets are pretty straightforward. First resistance is at $110–$115, which used to be support before it broke. Getting back above that would show some real strength returning. After that, bulls would be eyeing $122–$126, where price got rejected before. Right now SOL's trying to bounce, but it's still stuck under key resistance—meaning any rally could face heavy selling.
⬤ This matters beyond just Solana. SOL often moves with broader altcoin sentiment, so what happens at $97–$100 could ripple across the market. Hold here and we might see some stabilization and recovery attempts. Break lower and it could trigger another wave of fear and downside momentum across crypto.
Victoria Bazir
