Solana's $100 support breaks – SOL traders should watch THESE 2 levels

Market impact: Bearish in the short term, but confirmation-dependent.

The break below $100 weakens SOL’s near-term technical structure because price fell beneath its 9-day and 21-day moving averages, while more than $10 million in long positions were liquidated. That combination can create forced selling and reduce traders’ willingness to maintain leveraged bullish exposure.

The key market test is whether SOL can reclaim and hold $100–$102. A daily close above $102 would suggest the breakdown was a liquidity flush or temporary loss of confidence rather than a sustained trend reversal. Failure to recover that zone would leave $93 as the next downside area highlighted by the article, with a move below $90 becoming a greater risk if selling accelerates.

Derivatives positioning adds to the cautious interpretation: reported futures outflows exceeded inflows, futures netflow was negative, and derivatives and options activity declined. This points to reduced speculative demand and possible de-risking, although lower open interest can also reduce the probability of an extended leverage-driven liquidation cascade. The data do not establish that institutional investors specifically exited.

For SOLUSD, the immediate bias is therefore negative while price remains below $100–$102. A retest of $93 is particularly important: stabilization there would indicate orderly profit-taking or defensive positioning, whereas a decisive break could signal broader capital withdrawal from Solana and potentially weigh on other high-beta altcoins. The bearish interpretation would be weakened by improving spot demand, renewed derivatives participation, or a sustained daily recovery above $102.