Solana price has fallen below $90, leaving buyers defending the latest November low while oversold daily momentum offers a possible opening for a rebound. Summary SOL traded below $90 after g
Solana price has fallen below $90, leaving buyers defending the latest November low while oversold daily momentum offers a possible opening for a rebound.
SummaryTradingView’s Binance SOL/USDT daily chart showed SOL at $89.47 at 7:22 p.m. UTC on Nov. 5, down 6.42% during the unfinished session after touching $88.76.
The latest decline follows several failed attempts to recover ground lost since late September. As crypto.news previously reported, SOL reached $124.62 on Sept. 27 before falling below $120. Compared with that peak, the latest daily chart price represents a decline of approximately 28.2%.
October’s earlier support areas have since given way. SOL was trading near $104.47 on Oct. 16, when the weekly support near $99 remained beneath price. By Oct. 29, the token had slipped below $100, leaving the September recovery increasingly dependent on lower support levels.
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The daily chart shows a sequence of lower highs and lower lows following the retreat from the $120–$125 region. The latest candle opened at $95.60 and reached $97.10 before sellers pushed SOL beneath $90, erasing the recovery within the same session.
Solana price daily chart — Nov. 5 | Source: TradingView
Price is now touching a descending purple trendline drawn beneath the October decline. A rebound from this line would preserve the immediate chart boundary, but the repeated failures above it leave buyers needing to recover recently lost levels.
Daily RSI stood at 28.89, below its moving average of 33.10. The reading puts SOL in oversold territory, creating room for a relief bounce without establishing that the decline has ended. RSI had already spent much of October below its midpoint as successive rallies lost strength.
Aroon showed an equally weak setup, with the declining-trend component at 100 and the rising-trend component at zero. Fresh lows continue to dominate the indicator’s measurement window, reinforcing the downward price structure.
Trader XO described a similar problem in his Solana assessment, pointing to daily bands moving lower without signs of a base and weekly levels becoming resistance.
“Why fight the trend,” he wrote.
$SOLFrom a swing trading or spot perspective… You just dont fade the daily bands into a previous range high particularly when:1. The trajectory of the daily bands continues to trend lower with no slow down in momentum – not even remotely basing out…2. It's rolled over… https://t.co/mmwErYSX1Cpic.twitter.com/PP4qL2TxKW
— XO (@Trader_XO) November 5, 2026
An earlier Nov. 5 post from trader RED outlined the hurdles facing SOL while it traded around $95–$96. He identified $97–$98 as resistance and said a four-hour close above that zone, followed by a successful retest, would strengthen the case for $100.
“Until SOL breaks above $98 and holds, I’m treating this as a recovery rather than a confirmed trend reversal,” he wrote.
His downside levels were $95, followed by $92.50–$93, with $90 coming into focus if the latter area failed. The latest TradingView snapshot shows SOL below both upper support zones and already testing the final level in that sequence.
Reclaiming $92.50–$93 would therefore recover the nearest lost area. A move through $95 would put the failed session rally back within reach, while $98 remains the stronger confirmation threshold in RED’s assessment. From $89.47, reaching $98 would require a gain of approximately 9.5%.
The CoinGlass one-month liquidation heatmap shows nearby overhead concentrations around $92–$97 and $99–$101. Stronger bands sit near $105–$106 and $109–$110, placing further leveraged positions above the immediate recovery hurdles.
Solana liquidation heatmap | Source: CoinGlass
U.S. fund demand had weakened before the latest decline. An Oct. 29 report documented two sessions of outflows totaling $24.82 million from spot Solana ETFs on Oct. 27 and 28, citing SoSoValue.
On the weekly chart, SOL stood at $89.53, down 5.29% during the unfinished candle. Weekly RSI measured 45.17 against its average of 54, showing weaker momentum after the September advance.
Solana price weekly chart — Nov. 5 | Source: TradingView
The active green Supertrend line remained below price at $84.39. A weekly close beneath that moving threshold would put the indicator’s bullish reading at risk. From the daily snapshot near $89.47, that level was approximately 5.7% lower.
Below it, the daily chart shows an earlier consolidation around $75–$80, where SOL traded before its August breakout. The deeper June trough sits near $62, well beneath the immediate weekly support.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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