Solana price has fallen by 8.28% in the last 24 hours, dipping below $95 for the first time since February 2024. This marks the continuation of a significant downtrend, with SOL losing 26.77% over the past week.
The cryptocurrency is now trading far below its key moving averages, and momentum indicators confirm sustained selling pressure. The volume of trading has risen to 7.1 billion, with a growth rate of 73.79% in trading.
The broader crypto market has reduced by 4.08% to 2.5 trillion. Bitcoin price has declined by 5%, and Ethereum has been down by 6%.
There is also strong bearish action with other leading cryptocurrencies such as BNB, XRP, ADA, and DOGE. The current market mood is that of extreme fear, and this fear has been compounded by a wave of long liquidations.
Solana Sees Surge in Token Launches, Reaches Record High in January
In January, the Solana blockchain experienced an impressive surge, with over 1.3 million new tokens launched. This is the most active period in the last 12 months. The new tokens belong to the SPL (Solana Program Library) ecosystem that has been growing significantly in recent times.
The graph presented below demonstrates the amount of tokens released throughout the past month, and it is evident that there is steady activity during the period. However, despite the partial fluctuations, the trend was strong, with the daily launches being at its highest point on a number of days.
Solana ETFs See $5.6M in Inflows as BSOL Leads the Charge
Solana ETFs saw $5.6 million in net inflows on February 2, 2026, with Bitwise Solana Staking ETF ($BSOL) leading the way, bringing in $3.4 million. The net inflows totalled to $887 million.
Other funds like Fidelity Solana fund (FSOL) and Grayscale Solana fund (GSOL) also registered high flows, with the smaller funds like TSOL registering a small decline. The general direction indicates the increased attention to Solana-related investments.
📈ETF DATA: @Solana spot ETFs recorded $5.6M in net inflows yesterday, led by $BSOL with $3.4M, bringing total net inflows to $887M. pic.twitter.com/9CxD6p6NZo
— SolanaFloor (@SolanaFloor) February 3, 2026
Solana Price Prediction: Can $90 Hold Amid Continuing Downtrend?
As of the reporting time, the SOL price decreased to $92.32, reflecting a decline of 8% in the past 24 hours. The market mood has been hesitant, and the SOL price has been testing the support levels around the area of $90.00, which may be a critical point that bulls will want to hold.
Should this level fail to hold, a deeper pullback towards the $80 zone is possible, where additional support is anticipated.
However, any recovery may face resistance near $100, where the future Solana outlook could struggle to break higher.
The Moving Average Convergence Divergence (MACD) is bearish. The MACD below the line is lower than the signal line. This is a sign of the selling pressure that may keep on pushing SOL downward. The red histogram also validates this idea of further downward movement.
The Relative Strength Index (RSI) is at 21, and this shows that SOL is already in an oversold situation, indicating a possibility of a temporary recovery.
In conclusion, Solana’s price has a serious selling pressure in the form of a downward trend. The level of support might provide a temporary relief, but in the near future, resistance might prevent any significant recovery.