Solana's (SOL) latest sell-off has shifted the chart's focus from upside targets to the support zones that could contain the pullback.

The rally lost its floor around $109

Since early August, SOL had moved inside a rising parallel channel, with each pullback holding above the prior low. The latest sell-off broke that pattern, pushing price beneath the channel's lower boundary and through the $109.2–$109.7 range, where the former channel floor converged with the 50-day simple moving average (SMA) and the 23.6% Fibonacci retracement.

Fibonacci retracements plot fixed fractions of a prior advance—in this case, the climb that carried SOL to its recent high near $125—with each level marking the price at which that share of the move would be surrendered. When such a level coincides with a channel boundary and a moving average, the overlapping references give the zone more weight than any single line on its own.

That range had helped contain earlier September pullbacks. With SOL now trading below it, the same combination of chart references sits overhead. A recovery above $109.2–$109.7 would place price back inside the channel and above its 50-day average; while it remains below, rebounds may meet resistance there.

With $109 overhead, attention has moved to $100

The latest daily session reached an intraday low of $101.72, stopping just above the 38.2% Fibonacci retracement at $100.2. The round $100 mark falls within the same zone, making it the first area where buyers have attempted to slow the decline.

Round figures often act as reference levels in their own right, watched independently of any indicator overlay. The market's response should therefore be judged around $100 rather than at one exact number. A short move below the range would not settle the chart by itself. Persistent daily trading beneath it, however, could leave SOL searching for support closer to the longer-term moving averages.

Lower supports become relevant only if $100 fails

If SOL cannot stabilise around its current support, the next reference lies between $92.5 and $93.5. The 50% Fibonacci retracement sits near $92.5, while the rising 100-day SMA is near $93.5. Their overlap makes this the next important range beneath the market.

Further down, the 61.8% Fibonacci retracement near $85 overlaps with the 200-day SMA near $87. That area would become the chart's deeper support reference only if SOL also trades through the 100-day average. Moving averages like these smooth closing prices over progressively longer windows, so their upward slope reflects the trend built during the August advance rather than the most recent sessions.

Momentum has weakened with the price structure

Losing the 50-day SMA has damaged SOL's short-term trend. The 100-day and 200-day averages are still rising below price, though, leaving the support layers from the August advance intact at lower levels.

The same loss of momentum is visible in the daily RSI, which has fallen to around 41—below its 50 midpoint and its signal line near 54. The RSI compares the size of recent gains with recent losses, so readings under 50 mean declines have outweighed advances over the window it measures. The indicator confirms the slowdown that followed SOL's retreat from the recent high near $125. A recovery in the RSI would carry more weight if price also regains the former $109 support cluster.

The rebound has a clear repair point

Solana's chart has shifted from an orderly channel advance to a correction below its first major support cluster. Holding around $100 could keep the pullback contained, but the short-term structure would remain fragile until SOL returns above the former channel floor near $109.

If the current support cannot hold, the $92.5–$93.5 area would become the next technical test. The rising 100-day and 200-day averages leave room for a deeper correction without erasing the entire August advance, yet the immediate trend remains weaker while SOL trades below the lost channel.

This article is provided for informational purposes only and does not constitute financial or investment advice. Technical levels and indicators are interpretive tools, not guarantees of future price movement.