Solana (SOL) is taking a hit in the ongoing February 2026 crypto correction, currently trading around **$102–$105 USD** (spot prices dipping to lows near $100–$101 earlier today, with averages hovering ~$103–$105 across CoinGecko, CoinMarketCap, and other trackers). This marks fresh 2026 lows, down ~10% in the last 24 hours and extending the slide from January highs near $125–$130+, now ~50–60% off late-2025 peaks.
### Quick Market Pulse (Feb 1, 2026)
- **Price Action**: SOL tested sub-$101 intraday before a weak bounce, still below key $110–$116 support zones. Descending trend intact; resistance at $106–$110, downside risks toward $95–$100 if broken (some TA eyes potential capitulation flush there).
- **What's Driving It**: Mirrors broader market pain—tech layoffs fears, AI revenue concerns, macro uncertainty (Fed signals, dollar strength), and rotation out of alts. High volume (~$7B–$8B+ 24h) with liquidations adding pressure. Extreme fear sentiment, RSI oversold.
- **Technicals**: Heavy selling pressure, but oversold conditions + historical February strength (often positive for alts) could set up relief if $100–$102 holds.
- **Broader Vibes**: Solana ecosystem still strong long-term—active addresses surging, DeFi/meme volume resilient, institutional inflows (ETFs like Bitwise/Fidelity seeing assets >$1B), and upgrades (Firedancer on horizon). But short-term, it's bleeding with BTC/ETH.
This dip feels brutal, especially after SOL's 2025 run, but shakeouts like this often precede bounces in cycles. February seasonality could help if supports firm.
Pain trade or loading zone? Adding SOL here, or waiting for $110+ reclaim? Let me know your take! 📉💎
#Solana #sol #crypto #SolanaUpdate #February2026