Solana Slides Toward $100 as Weekly Support Faces Test

Solana ($SOL) has retreated toward $104, putting the $100 support level under pressure as its weekly chart leaves room for the broader recovery to survive, according to CryptoNews. SOL traded at $104.47, down 0.92% for the session after reaching an intraday high of $107.44 and an intraday low of $103.91.

The weekly 50-period simple moving average near $98.99 sits just beneath the recent $100.62 low, making the $99 to $101 range a crucial test for buyers defending the region where September's recovery began.

Weekly Support and Resistance

The weekly chart places the 20-week moving average at $89.56, while SOL remains below its 200-week average at $112.43. A recovery through the $112 to $113 range would help repair weekly chart damage. Meanwhile, daily indicators such as the Aroon and Awesome Oscillator readings favor continued downside pressure, with the Awesome Oscillator at −6.49.

Farside Investors recorded $9.8 million in Solana ETF withdrawals on Oct. 15, extending a negative streak to nine trading sessions that produced approximately $37.8 million in combined outflows.

Network Catalyst and Liquidation Heatmaps

CoinGlass liquidation heatmaps show nearby concentrations around $104 to $105, with further bands at $108 to $110 and overhead levels near $123 to $125. Below current prices, visible bands at $100 to $101 and $96 to $97 align with the weekly support zone.

The Solana Foundation expects the activation of the Alpenglow upgrade on Oct. 21, targeting approximately 150-millisecond finality.

Key facts

• Solana traded at $104.47, down 0.92% for the session after testing an intraday low of $103.91.
• The 50-week simple moving average sits at $98.99, just below the $100.62 recent low.
• U.S. Solana ETFs recorded nine consecutive withdrawal sessions totaling approximately $37.8 million.
• The Alpenglow upgrade is scheduled for activation on Oct. 21.