Solana traded around $110.46 on Oct. 9, down roughly 4% over 24 hours, after briefly falling as low as $105.87 during the previous session before recovering, according to Investing.com. The move has put fresh pressure on Standard Chartered’s bullish outlook for the token.
Standard Chartered continues to forecast SOL at $250 by the end of 2026. That target would require Solana to gain roughly 126% from the $110 level in less than three months. The bank’s digital-assets research team, led by Geoffrey Kendrick, cut its 2026 Solana target from $310 to $250 earlier this year while raising longer-term projections: $400 in 2027, $700 in 2028, $1,200 in 2029 and $2,000 by 2030.
Kendrick has argued that Solana is gradually moving beyond its dependence on memecoin trading toward stablecoin-based micropayments. However, that bullish thesis faces a difficult short-term test. SOL has slipped beneath the $117–$120 area highlighted in the previous Solana outlook, leaving $110 as the immediate battleground for buyers.
The latest selloff pushed Solana below $110 on Oct. 8 before buyers stepped in around $106. SOL fell 5.79% during that session after already losing 3.67% the previous day. That makes the $105–$110 zone the key short-term support area. A recovery above $117 would improve the setup, while reclaiming $120 could put the September highs back in play.
