February 3 News, Solana experienced a technical correction after a sharp sell-off. Over the past seven days, SOL has declined approximately 15.5%, and during the market turbulence from late January to early February, it briefly touched a low of $95.87. Subsequently, the price found support and rebounded nearly 8%, currently climbing back to around $103, indicating that short-term selling pressure is weakening.
On-chain and capital indicators are sending key signals. After completing the downside target of the daily head and shoulders pattern, the Chaikin Money Flow indicator has moved contrary to the trend, forming a classic bullish divergence. This suggests that large funds are beginning to accumulate in the $95–96 range. The indicator is approaching the zero line, and once it turns positive, it will mean that buying strength is starting to dominate the short-term trend.
The behavior of long-term holders also supports the rebound. Activity indicators continue to decline, indicating that old chips are not being sold off on a large scale, and market panic is limited. However, short-term speculative capital is increasing. HODL Waves show that addresses holding for 1 day to 1 week are rising, reflecting more short-term traders entering the market, which could lead to increased volatility later on.
From a technical perspective, the $95.87–96.88 zone is the most critical support area. If broken, SOL could re-target $77. The first resistance above is at $103.60, with the real bull-bear dividing line at $120.88. This level coincides with the 20-day EMA and previous key highs, historically triggering strong rebounds.
If SOL can effectively hold above $120, the market may refocus on $128 or even $148; conversely, if trading volume remains insufficient, the short-term rally could quickly cool down. Moving forward, capital flow and the stability of long-term holders will determine whether Solana can complete a trend reversal.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Standard Chartered Sees Solana Shifting Beyond Memecoins Toward Payments
_Standard Chartered set SOL $250 target for 2026 and $2,000 forecast for 2030._
_Solana stablecoin turnover is 2–3x higher than Ethereum, per report data._
_Bank links Solana growth to low fees and shifts toward payment use cases._
Standard Chartered has revised its Solana outlook as
LiveBTCNews5h ago
Phantom Wallet crashes big time! During the airdrop period, token prices went haywire and balances were reset to zero—users blasted it for “making them pay up.”
Phantom, a wallet in the Solana ecosystem, experienced a service outage during the airdrop, causing abnormal token prices and account balances to be displayed, which affected user transactions. Some users suffered losses as a result and demanded compensation. Security experts warned of the risk of phishing attacks and advised users to verify on-chain data. Although the issue has been fixed, the trust crisis still needs to be monitored. This incident highlights the challenges of self-custody wallets in terms of system stability and the user experience.
区块客7h ago
The U.S. spot SOL ETF had a net inflow of $11.4530 million yesterday
On April 10, the U.S. SOL spot ETF recorded a net inflow of $11.4530 million in a single day. The Bitwise Solana Staking ETF (BSOL) contributed all of the inflow, bringing the historical total net inflow to $789.00 million. The current net asset value (NAV) of the SOL spot ETF’s total assets is $828.00 million, and the historical cumulative net inflow is $975.00 million.
GateNews7h ago
Alchemy Launches $20M Fund To Accelerate Solana Innovation
The race to dominate Web3 infrastructure continues to intensify, and Alchemy just made a bold move. The company launched a $20 million initiative aimed at accelerating innovation within the Solana ecosystem. This step signals a deeper commitment to empowering developers who want to build fast,
Coinfomania13h ago
Circle minted a total of 10.5 billion USDC on Solana over the past month
Gate News update, on April 10, Circle added another 250 million newly minted USDC today. Data shows that over the past month, Circle has cumulatively minted 10.5 billion USDC on Solana.
GateNews21h ago
