Solana Daily Market Update - Feb. 04, 2026
Solana is showing renewed weakness today after failing to hold above the 102–104 recovery zone. Price attempted to stabilize higher yesterday, but sellers stepped back in quickly and pushed SOL back down toward the 97–98 area. This tells us the recent bounce was not accepted, and the broader bearish structure is still in control. The market is now transitioning from a relief bounce back into pressure.
The daily trend remains clearly bearish. Price is still making lower highs and lower lows after the breakdown from the 140s, and the inability to reclaim previous support confirms that sellers are defending aggressively on rallies.
The most important support right now sits at 96–97, which is being tested again. This zone has already acted as a short-term floor, but repeated tests weaken support over time. If SOL holds above this area, we may see short-term consolidation or a small bounce. However, if 96 breaks with acceptance, the next downside targets open toward 92, followed by 88–90.
On the upside, resistance remains clearly defined at 100–102. As long as price stays below this zone, any upward move should be treated as corrective and vulnerable to rejection. Only a clean reclaim and hold above 102–104 would reduce downside risk and signal that sellers are losing control again.
Volume behavior supports caution. Selling pressure has returned with expansion compared to the late bounce phase, while buying volume remains reactive rather than aggressive. This suggests the market is still dominated by defense and risk reduction.
What to do now:
If long, this is a warning zone — protect capital and avoid hope-based holding.
If short, patience is key wait for confirmation of a clean breakdown before pressing.
If flat, staying out is the correct decision until price either loses support or reclaims resistance with strength.
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