Mr Haider Ali Khan notes that Solana has lost support at $94.50 and approached the $89 area. The author considers two scenarios: a further decline to $85–82 if support breaks, or a recovery after reclaiming $94.50.
CONFLICT
Solana has once again entered a zone where the market must choose a direction.
After the drop to $89, buyers had a chance to show that demand still exists. But until the price reclaims its former support, it’s too early to talk about a reversal.
What’s especially concerning is that SOL is falling along with the broader market. There are no convincing signs of independent strength in the asset.
WHAT’S HAPPENING
On November 6, SOL traded at around $89–90. It was down about 6–7% over the previous 24 hours.
The key $94.50 area, previously considered support, is now above the price and could become resistance.
According to ETF monitoring data, U.S. spot Solana ETFs recorded a small net outflow on November 5. It was significantly smaller than the outflows from Bitcoin and Ethereum, but on its own, it doesn’t yet confirm a return of institutional demand.
Technically, the situation remains weak: the price is below the former support zone, and short-term momentum is pointing down.
ANALYSIS
Mr Haider Ali Khan highlights $89 as an important support area. I’d split this level into two scenarios.
First, buyers hold the $89 area, reclaim $92–93.50, and successfully retest it. This would be the first sign that the downside break may have been false.
Second, the price settles below $89. In that case, the next area of interest is around $85–82.
I wouldn’t buy SOL just because the RSI is nearing oversold territory. First, the market needs to show that sellers are losing control.
TRADING PLAN
Main scenario: a conditional LONG after support is reclaimed.
Confirmation zone: $92–93.50.
Entry: after a daily close above $93.50 and a successful retest of the range.
Stop-loss: $90.80.
TP1: $97.80.
TP2: $100.
TP3: $104.
Invalidation: a daily close back below $90.80 after entry. If the price doesn’t reclaim $93.50, we don’t open a position.
Risk per trade: 0.5–1% of capital.
ALTERNATIVE SCENARIO
If SOL loses $89 and confirms the break with a retest from below, the bullish scenario is invalidated.
Then we can watch the $85–82 area. But that doesn’t mean you should automatically open a SHORT at the first retest of $89. We need a price reaction and volume confirmation.
WHAT COULD GET IN THE WAY
The main risk is a sharp move back above $78,000 by Bitcoin. In that case, Solana could recover along with the broader market, even if its own structure remains weak.
The second risk is a false break below $89. If the price quickly moves back above it, sellers could get trapped.
CONCLUSION
Mr Haider Ali Khan’s idea is useful because it doesn’t suggest buying Solana as it falls without confirmation.
I’d watch two levels: $89 below and $93.50 above. As long as SOL stays between them, the market hasn’t provided enough reason to enter with confidence.
A move back above $93.50 followed by a retest is a reason to reassess the asset. A break below $89 is a warning of a possible move toward $85–82.
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