- The price of Solana was around $122 on January 26, 2026.
- ETF inflows are not driving the price of SOL.
- Technical indicators point to continued bearish momentum and a likely drop toward $100.
Solana’s price came under increasing downward pressure as SOL failed to hold onto the gains recorded earlier this year.
On January 26, the altcoin traded near $122, down on the day and moving in step with broader weakness across the cryptocurrency market.
While River (RIVER) surged and Algorand turned green, Solana aligned with recent price struggles affecting Bitcoin, Ethereum and XRP.
The SOL token changed hands down almost 8% from the prior week, losses that persisted despite some positive institutional signals.
Although many analysts remain broadly bullish on Solana’s long-term prospects, the dominant near-term trend is bearish, with a possible decline toward the key support level at $100.
Solana continues to attract institutional interest
SOL’s price decline comes as major coins experienced capital outflows from various investment products.
Despite this, and in the midst of a $1.73 billion outflow from digital asset products last week, Solana stood out by recording net inflows.
CoinShares reported that investors added more than $17 million to SOL products during the period, including a spot exchange-traded product.
By contrast, Bitcoin saw over $1 billion in outflows in the same timeframe.
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 had recorded inflows of $2.17 billion, with Solana attracting more than $45.5 million.
“Easing expectations for rate cuts, negative price momentum and disappointment that digital assets have not yet joined a discounted market likely drove these outflows,” said James Butterfill, head of research at CoinShares.
Solana’s specific inflows highlight its appeal amid broader market caution.
Still, bulls failed to prevent a retracement from the $133 highs seen earlier in the week.
Profit-taking after 2025 highs and unfavorable macroeconomic headwinds appear to outweigh inflows, leaving SOL vulnerable to further downside pressure.
Price outlook: Bears target $100
As the price approaches the psychologically important $120 area again, analysts warn bears could push SOL toward $100 in the near term.
Sellers last appeared in this region in April 2025, after which a rebound carried prices above $200. The current downtrend risks repeating a similar prolonged movement to the downside.
Technical indicators reinforce the overall bearish view. The MACD shows negative momentum and a diverging histogram, signaling further downside risk.
The daily RSI remains neutral between 40 and 46. While not decisively oversold, it does not support a rapid recovery.
Price could fall if selling pressure exposes buyers at key levels around $118 and $112, especially if profit-taking intensifies near the $120 mark.
Maintaining strong network fundamentals will be important for buyers both short- and long-term. A sustained recovery above $130 could accelerate gains toward $150–$180.
The $200 level remains the primary upside target for a full bullish reversal.