- Solana’s price hovered around $122 on January 26, 2026.
- ETF inflows are not driving SOL’s price.
- Technical indicators point to a bearish continuation, with a likely drop toward $100.
Solana’s price has come under increasing downward pressure, as SOL failed to hold onto the gains seen earlier this year.
On January 26, the altcoin traded near $122, marking a daily decline that coincided with broader weakness across the crypto market.
While River (RIVER) saw sharp gains and Algorand turned green, Solana joined Bitcoin, Ethereum and XRP in the latest round of price setbacks.
The SOL token changed hands nearly 8% lower than a week earlier, losses that persist despite some positive signals from institutional investors.
Analysts remain cautiously optimistic overall, but the prevailing bearish trend suggests a possible near-term decline to the critical $100 support level.
Solana continues to attract institutional interest
SOL’s decline reflects capital withdrawals from several major crypto investment products.
However, despite selective institutional enthusiasm last week amid $1.73 billion in outflows across digital-asset products, Solana stood out as one of the assets that recorded inflows.
According to CoinShares, investors still put more than $17 million into SOL products, including a spot exchange-traded product.
By comparison, Bitcoin experienced more than $1 billion in outflows during the same period.
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
One week earlier, digital asset products recorded $2.17 billion in inflows, with Solana attracting more than $45.5 million.
“Diminishing expectations for rate cuts, negative price momentum and disappointment that digital assets have yet to join a broader risk-on trade likely drove these outflows,” said James Butterfill, Head of Research at CoinShares.
The investor interest specific to Solana highlights its appeal amid broader market caution.
Still, bulls failed to halt the decline from recent highs around $133 during the past week.
Factors such as profit-taking after 2025’s peaks and macroeconomic headwinds appear to be outweighing inflows, leaving SOL in a bearish posture.
SOL price outlook: Bears targeting $100
As the price tests the psychological $120 support area again, analysts warn that bears may next target $100.
Sellers were last dominant in this region in April 2025, and the subsequent rebound pushed prices above $200.
The current downtrend raises the risk of a similar sustained move lower, and technical indicators reinforce a bearish outlook.
For example, the MACD shows negative momentum and histogram divergence, signaling further downside potential.
Meanwhile, the daily RSI remains neutral in the 40–46 range. While not convincingly oversold, it does not support a swift rebound.
Price could slide if selling pressure exposes key levels around $118 and $112 as traders take profits and breach the $120 area.
Buyers focusing on network fundamentals may find opportunities for both short- and long-term positions. A sustained recovery above $130 could accelerate gains toward the $150–$180 zone.
The $200 level remains the primary upside target should bulls regain control.