Will Solana dip to $100 October 5-11?

Analysis

Solana was trading around $108 on Binance's SOL/USDT spot pair at 3:08 p.m. ET on Oct. 8, according to reports. That was up from $106 an hour earlier, though still down 6.63% over 24 hours. Another report had it falling from $113 to $107 in four hours earlier that afternoon. The question is whether any one-minute candle on Binance prints a low of $100 or lower between 12:00 AM ET on Oct. 5 and 11:59 PM ET on Oct. 11. A single wick would count, so a close above $100 is not enough. Still, the forecast leans toward the dip not happening, because the price was reported near $108 with the window's final days still ahead. The tape is soft, and that is the counterargument. Reports describe SOL slipping below the $115 to $116 support area, and US spot Solana ETFs reportedly shed $17.7 million over three straight sessions. One report also noted a daily Supertrend level near $107, and SOL traded close to that level during the Oct. 8 drop. The bounce to $108 suggests the slide paused there, though that is a read on the move, not a confirmed floor. Some of the picture is more constructive. Reported Santiment figures show network growth up 124% since early September and daily active addresses up 58% to roughly 4.27 million. That supports the longer-term story, but it does not stop a sharp short-term wick. The thing to watch is whether SOL loses the $107 to $106 area on heavy selling. A clean break there would put $100 in play.