Solana is trading around $101.99 today after bouncing back from a session low of $95.83, its lowest since July 2025. The rebound follows Jupiter’s announcement of bringing Polymarket to Solana for the first time, paired with a $35 million strategic investment from ParaFi Capital, showing strong institutional support for the ecosystem.
Jupiter Polymarket Integration Shifts Narrative
Jupiter revealed a major integration to bring Polymarket, crypto’s biggest prediction market, to Solana for the first time. This move establishes Jupiter as a full on-chain predictions hub in addition to its swap services.
The news also included a $35 million strategic investment in JUP from ParaFi Capital, paid entirely in JupUSD with a long-term token lockup. Jupiter’s pseudonymous co-founder Meow said prediction markets will be a key focus this year, with updates planned for APIs and improved market discovery tools.
Jupiter’s strong on-chain presence backs this growth, with $2.35 billion in total value locked, annual fees around $650 million, and protocol revenue near $150 million. Adding Polymarket could attract more users and liquidity to Solana as prediction markets grow in popularity.
Spot Outflows Persist Despite Positive Catalyst
Coinglass reports $39.2 million in spot outflows on February 2, continuing the trend seen in recent weeks. This selling indicates holders are using rallies to cut exposure instead of buying at lower prices.
The gap between strong fundamentals and outflows shows a wider risk-off mood impacting all altcoins. Even with ecosystem news, lack of new buyers indicates macro sentiment is still driving prices.
Price Tests Critical Long Term Support Zone
On the daily chart, Solana has fallen below the descending trendline that held since November, moving toward a key horizontal support around $100. It trades well under all major EMAs: 20-day at $121.45, 50-day at $129.53, 100-day at $141.08, and 200-day at $154.21.
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The Supertrend stays bearish at $123.04, confirming the downtrend from September’s highs near $260. Solana has dropped about 60 percent from those peak levels.
The $95–$100 range is key support that held in the November drop. If it breaks, Solana could test the $85 demand zone from July 2025, where buyers stepped in during summer consolidation.
Short Term Structure Shows Descending Channel
On the 2-hour chart, Solana is moving inside a descending channel that has shaped price action since January 30, with resistance around $105 and support near $95.
RSI has bounced to 40.04 from oversold levels around 30.15, showing short-term selling pressure is easing. MACD’s histogram turns positive at 0.32, with signal lines converging, hinting at a potential momentum shift.
The rebound from $95.83 has created higher intraday lows, yet Solana stays inside the descending channel. A move above the $105 channel resistance is needed for bulls to signal a potential reversal.
Outlook: Will Solana Go Up?
The trend is still bearish as price stays below the EMA cluster, but the $95–$100 support area could provide a potential level for stabilization.
Bullish scenario: Closing above $121.45 on the daily chart would reclaim the 20-day EMA and suggest the $95 low was a local bottom. Jupiter’s news could draw buyers if overall crypto sentiment turns positive.
Bearish scenario: A daily close below $95 would break 2025 support and target the $85 demand zone. Ongoing spot outflows and macro pressures make this outcome likely.