Solana risks 20% drop as SOL tests $100 support, ETF outflows rise

Solana , a blockchain platform known for its high-throughput capabilities, is facing renewed selling pressure as the price of its native token, SOL, trades near $100. Technical analysts are expressing concerns that a sustained breach of this level could trigger a further decline toward $80, representing a potential 20% loss. SOL has lost about 14% in October, falling behind major cryptocurrencies like Bitcoin , Ethereum , and XRP over the same period. The recent dip below $100 has tested a key support zone that previously attracted significant buying interest. Since August, analysts have been tracking a head-and-shoulders formation, a classic bearish chart pattern. This structure began with a left shoulder near $111, followed by a surge to $125 forming the head, and a right shoulder projected around $115.

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