Solana Update — Are we waiting for a trend reversal confirmation?

As of 2026-02-09, Solana (SOL) continues to suffer from significant selling pressure on a broader scale, with the price declining from the $148 region to below $87. Current data shows SOL at $86.98, down 0.19% over the past 24 hours. This latest update confirms that what’s happening is not just a normal correction but a genuine decline supported by strong trading volume. The technical outlook remains cautious and requires close monitoring.

The Downtrend Still Dominates the Scene

In recent days, Solana has experienced a sharp sell-off on daily charts, with the price dropping from $148 to a low around $95.5 on very high trading volume. The massive trading activity indicates that this is not a temporary rebound but organized selling pressure from major players. After hitting the $95.5 low, there was a brief rally close to $105, but this rise appears to be just short covering rather than strong buying interest from new investors.

Critical Resistance Levels Between $110 and $116

Structurally, Solana is currently trading below all previous support levels, which have now turned into strong resistance. The critical zone lies between $110 and $116 — levels that the price must break through convincingly to confirm a genuine trend reversal. As long as the price remains below these levels, any upward movement will be just a temporary technical correction, not the start of a new bullish trend. These levels represent the real test of strength.

Trading Volume Indicates a Temporary Pause, Not a Recovery

On smaller timeframes, the price is moving sideways within the $102 to $107 range, reflecting a state of consolidation and hesitation. The declining trading volume during this period of relative stability confirms that the market is in a waiting phase and a temporary pause, not building real bullish momentum. This decrease in activity suggests a lack of genuine buyers and ongoing market indecision.

Next Steps — Patience Remains the Best Strategy

The overall market outlook is currently cautious to clearly bearish. There are no strong bullish catalysts yet, and the overall market environment remains weak. Any real trend reversal requires reclaiming the mentioned resistance levels with very high trading volume — which has not happened so far. The current strategy calls for patience and waiting, focusing on clear confirmation before making any investment moves. This update confirms that cautious monitoring is the best approach for now.