- Solana’s price was near $122 on January 26, 2026.
- ETF inflows did not appear to move the SOL price.
- Technical indicators point to continued bearish momentum and a likely drop toward $100.
Solana’s price has faced growing downward pressure, and SOL failed to hold the gains recorded at the start of the year.
On January 26, the altcoin traded around $122, slipping amid broader challenges across the cryptocurrency market.
While some tokens surged and Algorand turned green, Solana moved in line with recent price troubles affecting Bitcoin, Ethereum and XRP.
The SOL token traded nearly 8% lower than a week earlier, losses that persisted despite some positive institutional signals.
Analysts remain cautiously optimistic overall, but the prevailing bearish trend points to a potential short-term decline toward a critical $100 support level.
Solana continues to attract institutional interest
SOL’s pullback comes as major coins have seen capital flow out of various investment products.
Despite institutional investors showing selective enthusiasm last week during a $1.73 billion outflow gap, Solana stood out as one of the few to record inflows.
According to CoinShares’ report, investors put more than $17 million into SOL products, including a spot exchange-traded product.
Over the same period, Bitcoin experienced outflows exceeding $1 billion.
Digital asset investment products recorded US$1.73B in outflows last week.@Bitcoin, @ethereum and XRP (@Ripple) all saw outflows totalling US$1.09B, US$630M and US$18.2M respectively, highlighting negative sentiment was broad-based. @solana bucked this trend with inflows of… pic.twitter.com/tefIwdc2zW
— CoinShares (@CoinSharesCo) January 26, 2026
A week earlier, digital asset products recorded $2.17 billion in inflows, with Solana drawing more than $45.5 million.
“Lower expectations for rate cuts, negative price momentum and disappointment that digital assets have not participated in a re-rating trade have likely driven these outflows,” said James Butterfill, head of research at CoinShares.
The Solana-specific interest highlights its appeal amid broader market caution.
However, bulls have not been able to prevent the pullback from the recent highs around $133 over the past week.
Profit-taking after last year’s peaks and macroeconomic headwinds appear to outweigh those inflows, keeping SOL in a bearish stance.
SOL price outlook: Bears eye $100
With the price once again approaching the psychological $120 support area, analysts warn that bears could target $100 next.
Sellers were last concentrated in this region in April 2025, after which a rebound pushed prices above $200.
The current downtrend risks a similar sustained move, and technical indicators reinforce the bearish outlook.
For example, the MACD shows negative momentum and histogram divergence, signaling further downside.
Meanwhile, the daily RSI sits neutrally in the 40–46 range. While not deeply oversold, it does not favor a rapid recovery.
Price could slip further if selling exposes buyers at key levels around $118 and $112, particularly if profit-taking pushes SOL below the $120 mark.
Strong network fundamentals remain a bullish argument for buyers over both the short and long term. If momentum shifts and SOL sustains gains above $130, a faster move toward $150–$180 could follow.
The $200 level remains the major upside target.