The "Ethereum Killer" is facing its toughest test of 2026. As of today, February 4, $SOL has slipped to approximately $97.40, down over 6% in 24 hours. While the "paper hands" are panicking, the on-chain data tells a much more nuanced story.
📉 The Reality Check: Why the Dip?
The recent slide from the $120 resistance zone wasn't random. We are seeing a massive de-leveraging event across the ecosystem.
TD Sequential Buy Signal: Interestingly, the TD Sequential indicator just flashed a "9 buy" on the daily chart near $100. This often signals that the selling momentum is exhausted.
Oversold RSI: With the RSI dipping toward 28, we are in deep "oversold" territory. Historically, $SOL doesn't stay here for long.
🔄 The "Big Pivot": From Memes to Micropayments
The most significant news today comes from Standard Chartered, who just revised their 2026 target to $250. While this is a "cut" from previous highs, their long-term outlook for 2030 moved up to $2,000.
The reason? Solana is successfully transitioning from a "memecoin casino" into a global micropayments powerhouse.
“Stablecoin velocity on Solana is now 3x higher than on Ethereum. We are moving away from speculative hype and toward real-world utility like AI-agent payments and Firedancer-backed high-speed trading.”
🚀 My Opinion: The Strategy for February
I am not looking at the $97 price tag; I am looking at the $92–$95 support cluster. If we hold this zone, the "February Bounce" (which has historically returned 30%+) remains on the table.
My Plan:
Accumulate in the $90–$97 range.
Watch the $ETH/SOL pair: If Solana continues to show relative strength against Ethereum, the recovery will be violent.
Narrative Play: Keep an eye on the Firedancer mainnet updates—this is the fundamental catalyst for the next leg up.
What’s your move? Are you bidding at $95 or waiting for a deeper drop to $80? Let’s talk in the comments! 👇
#Solana #MarketAnalysis #Crypto2026