📈 Solana Analysis: $89 Is the Last Line Before the Jobs Report

$SOL This is an analysis of price levels—not a buy or sell recommendation. Prices are from Kraken on the morning of November 6.

First: Price Structure
• The price is now around $89.4, after reaching a 24-hour low of $89.08 and a high of $96.79
• Down 6.7% in a day—between Bitcoin and Ethereum in the severity of the decline
• On November 4, the critical level was $92.72—the price is now clearly below it, and support at $89.77 has broken

Second: Levels
• Support: $89.08, the 24-hour low, then $85, a psychological level
• Resistance: $92.72, then $96.79, the 24-hour high
• The level that will decide things today: $89.08—holding above it keeps consolidation alive; breaking below it opens the door to a deeper decline
• Invalidation level: A daily close below $89.08 invalidates the entire consolidation thesis

Third: Derivatives
• Solana liquidations totaled around $38 million over 24 hours—the lowest among the three major coins
• Funding is slightly negative at 0.0037% every 8 hours—sellers are paying a little, with neither side overextended

Fourth: Flows
• No Solana fund figures have been reported today at the time of writing—and the overall picture is negative: Bitcoin is down 6% and Ethereum 8%, with Solana in between, neither leading nor lagging much

Fifth: The Two-Scenario Tree
• Consolidation: Holding above $89.08 opens the way to $92.72, then $96.79—breaking below $89.08 invalidates this scenario
• Decline: Breaking below $89.08 sends the price back toward $85—invalidated by a close above $92.72

What does all this mean? Solana is testing its latest low before the jobs report—holding above $89 is the whole story today, and a break below means the entire market is looking for a new low.

Quick question: Do you think Solana will hold above $89 or break below it before the report? Write “hold” or “break.”

Source: Kraken, CoinGlass — November 6, 2026
#Solana #Crypto