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Solana price dips near $104, testing key $100 support amid ETF outflows and upcoming network upgrade.

Market News
16 Oct 2026
Crypto news
View Source
Bearish
Solana price dips near $104, testing key $100 support amid ETF outflows and upcoming network upgrade.

Solana's price has fallen back to around $104, putting the critical $100 support level under pressure after losing gains from a recent rally that peaked near $124. Technical indicators on the daily chart suggest continued downward momentum, while the weekly chart shows some support around $99 to $101, near the 50-week moving average. U.S. Solana ETFs have seen nine consecutive days of withdrawals, totaling about $37.8 million, adding selling pressure ahead of the anticipated Alpenglow network upgrade scheduled for October 21. Holding the $99–$101 support zone is crucial for Solana to attempt a recovery toward $108–$110 and beyond; failure to hold could lead to further declines toward $96–$97 and the 20-week moving average near $89.56.

Solana's recent price pressure is reflected in its current trading on Pluang, where as of Oct 16, 2026 23:01 WIB, SOL trades at Rp1.859.311, down 2.26% in the last day. The market shows active interest with a 24-hour volume of Rp47,52 trillion and a market cap of Rp1.131,46 trillion. Despite the short-term dip, most Pluang users remain buyers, with 63% of order activity favoring purchases and a typical hold time of 71 days.

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