The post Solana price tests $126 support as momentum weakens appeared on BitcoinEthereumNews.com. Solana price is hovering near the $126 support zone after losingThe post Solana price tests $126 support as momentum weakens appeared on BitcoinEthereumNews.com. Solana price is hovering near the $126 support zone after losing

Solana price tests $126 support as momentum weakens

Solana price is hovering near the $126 support zone after losing upside momentum, as declining volume and reduced leverage show traders stepping back.

Summary

  • Solana is consolidating near the $126–$128 support zone after a failed push above $145.
  • Falling spot volume and declining derivatives activity suggest reduced speculative interest, even as long-term institutional inflows and ETF demand remain supportive.
  • A firm hold above $126 could stabilize price action, while a daily close below this level risks a deeper pullback toward the $118–$120 range.

Solana was trading around $130 at the time of writing, up 1.4% on the day, though momentum appears to be cooling after a sharp rejection from higher levels.

SOL is down about 10% over the last week. During that time, prices have fluctuated between $125 and $145, indicating increased volatility around key technical levels.

Additionally, trading activity has decreased. Spot volume fell 6.8% to $5.62 billion over the previous day, indicating lower participation during the decline. According to CoinGlass data, open interest dropped 3.61% to $7.60 billion, while futures volume decreased 4.4% to $15.22 billion.

When taken as a whole, these declines indicate that traders are reducing their leverage and closing positions instead of taking on additional risk, which is a common pattern during corrective phases.

Institutional flows and on-chain activity remain constructive

Despite short-term weakness, institutional demand continues to build in the background. Spot Solana (SOL) exchange-traded funds recorded $2.92 million in net inflows on Jan. 21, as per SoSoValue data.

Monthly net inflows have now exceeded $103 million, bringing cumulative inflows to roughly $869 million.

Solana’s on-chain activity is still quite strong. According to DefiLlama data, daily decentralized exchange volume has nearly doubled since the beginning of 2026, going from about $2.5 billion to over $5.6 billion.

Despite a slight decline, the market capitalization of stablecoins is still over $14 billion, indicating strong liquidity.

Solana’s presence in real-world asset tokenization is also growing. Real world asset’s total value locked on the network has surpassed $1.1 billion, placing it third behind Ethereum and BNB Chain. This expansion continues to be fueled by institutional names such as BlackRock, Franklin Templeton, and Ondo.

At the same time, upgrades like Firedancer are improving network reliability, while regulatory clarity discussions and payments-focused partnerships support longer-term adoption.

Solana price technical analysis

From a technical standpoint, momentum has clearly rolled over. Solana failed to hold gains above the $145–$150 zone, where price was repeatedly rejected near the upper Bollinger Band. The current corrective leg began with that rejection.

Solana daily chart. Credit: crypto.news

SOL’s drop below its 20-day moving average suggests a loss of short-term momentum. Growing downward pressure is indicated by the daily relative strength index falling below the neutral 50 mark and into the low-40s. The corrective pattern has persisted because recent attempts at a bounce have stalled at lower highs.

Near-term support is clustered between $126 and $128, an area that lines up with the lower Bollinger Band and a previous consolidation zone. This zone is now under pressure. A sustained daily close below $126 would likely open the door to a deeper pullback toward the $118–$120 area, where earlier demand emerged.

On the upside, recovery attempts are likely to face resistance near $137–$140, followed by the major $145–$150 zone. Until price reclaims those levels and regains the 50-day moving average, rallies may struggle to gain traction.

Source: https://crypto.news/solana-price-126-support-weakening-momentum-2026/

Market Opportunity
4 Logo
4 Price(4)
$0,01568
$0,01568$0,01568
-6,49%
USD
4 (4) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Spot silver falls below the $100 mark

Spot silver falls below the $100 mark

PANews reported on January 30 that, according to Jinshi, some trading platforms showed that spot silver fell below the $100 mark, plunging by about $15 during the
Share
PANews2026/01/30 17:34
Solana network saw its active addresses more than double to over 5 million in January, with daily transaction volume jumping to 87 million.

Solana network saw its active addresses more than double to over 5 million in January, with daily transaction volume jumping to 87 million.

PANews reported on January 30th that, according to Nansen's monitoring, Solana's performance in the first 30 days of 2026 is as follows: The number of active addresses
Share
PANews2026/01/30 17:15
Australian regulators ease regulations on stablecoin intermediaries

Australian regulators ease regulations on stablecoin intermediaries

PANews reported on September 18th that, according to Decrypt, the Australian Securities and Investments Commission (ASIC) has granted a regulatory exemption to stablecoin intermediaries, allowing them to distribute cryptocurrencies issued by licensed Australian institutions without having to hold a separate financial services license. The exemption, published Thursday, states that intermediaries distributing stablecoins issued by Australian Financial Services (AFS) licensed issuers no longer need to apply for separate AFS, market, or clearing facility licenses. This measure, effective upon registration of federal legislation, is a significant step forward in addressing Australia's regulatory challenges in the stablecoin market. Blockchain APAC CEO Steve Vallas stated that this move is a temporary transition before broader reforms and is consistent with financial services law. The exemption does not change the determination of whether stablecoins are financial products, but simply "suspends the secondary licensing requirement for distributors of licensed issuers," allowing distribution through licensed channels while maintaining issuer liability and requiring intermediaries to provide product disclosure statements to ensure transparency.
Share
PANews2025/09/18 13:25