Solana traded near $106.20 on Oct. 15 after rebounding from an intraday low of $100.62, though bearish technical signals continued to cloud the recovery. Earlier in the session, SOL was down about 2% near $102.01 and had broken below a rising trendline that had supported price since late August. That trendline was near $109, making the day’s close the first firmly below it since the uptrend began.
The rebound left SOL roughly 14% below its late-September peak near $124. On the daily chart, the 20-day simple moving average sat at $114.95, the lower Bollinger Band at $102.83, and the upper band at $127.07. The daily MACD remained negative, with the MACD line at −1.07 below its signal line at 0.95 and the histogram at −2.03, indicating bearish momentum without a bullish crossover.
On the 4-hour chart, Solana’s 20-period simple moving average was near $106.11, while overhead moving averages at $109.21, $112.67, and $114.43 created successive resistance levels. Analyst Aman identified $97–$99 as a key support zone, with a conditional downside target of $75–$77 if that area fails. Liquidation heatmap data showed clusters near $100–$101 and $105–$107, with larger bands around $123–$125 and $96–$97.
Demand through U.S. spot Solana ETFs remained weak: funds recorded $1.29 million in net outflows on Oct. 14, marking an eighth consecutive session of withdrawals. In the broader narrative, Grayscale’s head of research called Ethereum, Solana, and BNB Chain overlooked bets that many crypto traders are skipping. Separately, the Solana Foundation opened a Shanghai office and ran skyline ads, a move Binance’s CZ called surprising.
