SOL has fallen below $90. I’ve been watching this level for days 📉
A two-month low, down 19.2% in October
That makes this the eighth month of losses in 2026
Since its all-time high of $294 in January this year, it’s down nearly 70%
The reasons behind this brutal decline are actually quite specific
U.S. spot SOL ETFs saw net outflows of $143 million in October
The week of October 30 saw $71 million in outflows alone, a record since launch
Institutions are pulling out, and retail investors can’t absorb the selling
Making matters worse, the Binance hackers’ stolen funds
More than 480,000 SOL, worth over $46 million, were converted straight into BTC and dumped
The technical picture is ugly, too
The price is stuck below the 50-day and 200-day moving averages, while the RSI has dropped into oversold territory around 25
The $98–$100 range faces double resistance from the 200-day moving average and a psychological barrier
First, watch $87 below; if that breaks, then $70 is in view
But I do think there’s one thing worth noting
The number of addresses holding stablecoins on Solana has grown from under 4 million to 14 million in a year
People are still on-chain; it’s the price that has collapsed first
This kind of divergence has appeared before. In January 2024, SOL also fell to around this level, then went on to climb back to $250
History doesn’t simply repeat itself, but cheap and bottoming out are two different things
$SOL is now in that “looks cheap, but nobody dares to buy” phase
Do you think SOL below $90 is an opportunity or a trap?
$SOL $BTC
#市场观察 #Solana #Altcoins
Not investment advice. DYOR. Trading involves risk.
A two-month low, down 19.2% in October
That makes this the eighth month of losses in 2026
Since its all-time high of $294 in January this year, it’s down nearly 70%
The reasons behind this brutal decline are actually quite specific
U.S. spot SOL ETFs saw net outflows of $143 million in October
The week of October 30 saw $71 million in outflows alone, a record since launch
Institutions are pulling out, and retail investors can’t absorb the selling
Making matters worse, the Binance hackers’ stolen funds
More than 480,000 SOL, worth over $46 million, were converted straight into BTC and dumped
The technical picture is ugly, too
The price is stuck below the 50-day and 200-day moving averages, while the RSI has dropped into oversold territory around 25
The $98–$100 range faces double resistance from the 200-day moving average and a psychological barrier
First, watch $87 below; if that breaks, then $70 is in view
But I do think there’s one thing worth noting
The number of addresses holding stablecoins on Solana has grown from under 4 million to 14 million in a year
People are still on-chain; it’s the price that has collapsed first
This kind of divergence has appeared before. In January 2024, SOL also fell to around this level, then went on to climb back to $250
History doesn’t simply repeat itself, but cheap and bottoming out are two different things
$SOL is now in that “looks cheap, but nobody dares to buy” phase
Do you think SOL below $90 is an opportunity or a trap?
$SOL $BTC
#市场观察 #Solana #Altcoins
Not investment advice. DYOR. Trading involves risk.