Solana price has fallen below key support at $116, putting its daily Supertrend near $107 in focus as U.S. SOL ETFs record three consecutive sessions of outflows
TradingView’s Binance SOL/USDT daily chart showed Solana trading at $112.28 on Oct. 8, down 3.46% from the session’s opening price. SOL reached an intraday high of $116.81 before falling to $111.21, leaving it below the $115–$116 area that had supported earlier trading
The decline extended a retreat from the late-September and early-October trading range around $120–$125. At roughly $112, SOL stood about 10% below $125, although its daily chart still showed a substantial recovery from the June low near $60
The latest technical readings put the short-term breakdown alongside a daily trend signal that remained positive. Price had moved below nearby horizontal support, but it continued to trade above the daily Supertrend line
SolanaFloor’s ETF tracker recorded net outflows of $9.24 million on Oct. 5, $3.69 million on Oct. 6 and $4.8 million on Oct. 7. Together, the rounded daily figures amount to approximately $17.73 million in withdrawals
The three negative sessions followed $1.3 million in net inflows on Oct. 2. Bitwise’s BSOL accounted for the entire $4.8 million outflow on Oct. 7, while the other tracked funds recorded no net movement that day
On Oct. 5, withdrawals were spread across BSOL and Fidelity’s FSOL. Grayscale’s GSOL drove the following session’s redemptions, partly offset by a small inflow into Invesco Galaxy’s QSOL
The withdrawals coincided with SOL’s retreat from its recent trading range. They also marked a reversal from the positive daily flow recorded at the end of the previous week
For U.S. investors, the fund data showed reduced exposure through listed Solana products over those three sessions. SolanaFloor nevertheless recorded approximately $1.6 billion in cumulative net inflows and $1.86 billion in assets across the tracked funds as of Oct. 7
In an Oct. 8 post, market analyst Sujal identified $116 as the support level Solana had lost. He said buyers needed to push SOL back above that threshold or risk a deeper correction toward $106
$SOL is a bit in trouble locally, since it lost a key support level of $116.Either bulls step in here and elevate back above it, or we might get a deeper correction into $106. pic.twitter.com/rC4WB5iA0T
The Binance chart subsequently showed SOL trading several dollars below $116. Its intraday high of $116.81 also placed the former support area close to the upper boundary of the day’s trading range
A separate assessment from market commentator BitGuru identified $113 as the immediate level to watch after SOL declined from around $121 toward $112.39. He named $110 as the next potential downside level if $113 failed to hold
The 4-hour TradingView chart showed SOL at $112.46, below both analysts’ nearer thresholds. Its session low of $111.21 left $110 as the next round-number level beneath the latest price
Those analyst assessments set out two distinct downside areas: $110 near the current price and $106 beneath it. A recovery above $116 would meet Sujal’s stated condition for reclaiming the lost support level, while continued trading below it would leave his correction scenario in play
TradingView’s daily chart placed Solana’s Supertrend at $107.22, below the latest price of $112.28. The indicator remained green despite the recent decline, preserving a positive daily trend signal
The distance between price and that line was approximately $5, or 4.5%. A move toward $107.22 would therefore bring SOL close to both the daily indicator and Sujal’s $106 downside level
The daily Awesome Oscillator stood at 7.29, remaining above zero. Its latest histogram bars were red and shrinking, showing that positive momentum had weakened from the preceding readings
The daily indicators consequently presented different aspects of the pullback. Supertrend remained below price, while the oscillator recorded fading upward momentum
On the 4-hour chart, the Bollinger Bands showed a clearer short-term deterioration. SOL traded at $112.46 beneath the lower band at $112.94 and well below the middle band at $118.16. The upper band stood at $123.39
The same chart placed Chaikin Money Flow at -0.17, below its zero line. Alongside the drop beneath the lower Bollinger Band, that reading added a negative money-flow signal to the short-term price breakdown
The 4-hour chart put several reference levels above SOL’s latest price. The former $116 support came first, followed by the Bollinger middle band at $118.16 and the recent trading area around $120–$123
CoinGlass’s one-week liquidation heatmap also showed substantial estimated liquidation concentrations above the market. The brightest visible bands sat around $122–$123, with further concentrations near $123.5–$125
Closer to the latest price, the heatmap showed bands around $115–$116 and $118–$119. Its price trace fell through those areas before reaching roughly $112 on Oct. 8
The technical recovery sequence therefore begins with the lost $113–$116 area. Above it, the 4-hour middle band at $118.16 provides another chart reference before the recent highs and larger overhead liquidation concentrations
On the downside, BitGuru’s $110 level comes before the daily Supertrend at $107.22 and Sujal’s $106 target. Solana’s daily trend signal remained positive at the time of the chart reading, but its price had yet to recover the support levels identified by either commentator
