TLDR
- Solana trades near $89 on November 8, after falling from around $120 in October.
- The weekly RSI is 44.99, and the MACD gap is narrowing.
- Support sits at $85–$90, with resistance at $100 and $115–$125.
- US spot Solana ETFs saw $25.07 million in net outflows on November 6.
- Standard Chartered targets $1,200 by 2029, while PrimeXBT projects $262–$411.
Solana (SOL) traded near $89 on November 8. The token has given back most of its October recovery, when it climbed to around $120. Weekly chart data shows where buyers and sellers are now focused.
SOL rebounded from lows of about $60 to $65 during the summer. It then rose toward $120 in October before sellers pushed it back below $100. That $100 mark is a widely watched round number.
The longer view is still well below earlier levels. SOL peaked near $295 in January 2025, so today’s price is far under that high. The weekly chart has not yet shown a lasting recovery.
The weekly Relative Strength Index (RSI) reads 44.99. That is under the neutral 50 line, which points to weaker buying momentum than a month ago. A reading below 50 often signals that sellers have the upper hand.
The Moving Average Convergence Divergence (MACD) is still slightly positive. The MACD line is at 2.00 and the signal line is at 1.50, but the gap between them is narrowing. A narrower gap can come before a bearish crossover.
Support and Resistance Levels on the Weekly Chart
Immediate support sits between $85 and $90, where the price is trading now. The next zone is the $75 to $80 consolidation area. Both areas are marked on the weekly chart.
A sustained break below those zones could expose the summer lows near $60 to $65. That range was the base for the October rally. It is the next level on the chart below $75.
On the upside, the first resistance is near $100, followed by $115 to $125. A move above those levels would improve the chart structure and could open a path toward $150.
Analyst Jesse Olson shared a cautious view on X. He said $SOL remains oversold on the daily chart and that price is drifting toward his fourth target. He added that it stays in a downtrend until proven otherwise.
$SOL remains oversold on the daily chart.
Price is drifting towards target four.
Downtrend until proven otherwise. pic.twitter.com/S7983eoLI8
— Jesse Olson (@JesseOlson) November 8, 2026
Network Upgrades, Adoption Data and Analyst Forecasts
The Solana Foundation highlighted two October upgrades on November 6. One was Alpenglow, which targets transaction finality of about 150 milliseconds. Finality is the point when a transaction is considered settled.
The Foundation also reported developments involving J.P. Morgan Asset Management, Samsung Wallet and Western Union. These point to growing interest in payments and tokenisation infrastructure on the network.
DefiLlama data shows about $5.2 billion in decentralised finance total value locked. Stablecoin supply on Solana is $14.6 billion, and weekly decentralised exchange volume is $10.7 billion. These figures describe network activity rather than the SOL price.
Standard Chartered analyst Geoffrey Kendrick forecast $1,200 for SOL by 2029 in research published in February 2026. The bank later cut its 2026 target from $250 to $135.
PrimeXBT projects a lower 2029 range of $262 to $411, with an average near $339. Reaching $500 from $89.10 would be a gain of about 461%.
The next Bitcoin halving is expected in 2028. Both forecasts target the year after that event.
US spot Solana ETFs recorded about $25.07 million in net outflows on November 6, according to SolanaFloor. Bitwise’s BSOL accounted for $14.44 million of that. Cumulative inflows into the funds remain about $1.45 billion.
