Solana’s $100 Reversal: Is This the Next 150% Rally or Just Another Crypto Head Fake?

If you blinked, you missed it. Solana, the blockchain that refuses to die, just staged a $100 bounce that has every chartist from Singapore to Stamford dusting off their Fibonacci retracements. The crypto market, still licking its wounds from Bitcoin’s latest failed breakout, is suddenly obsessed with whether Solana’s recent dip was a generational buying opportunity or just another cruel head fake in a market that eats hope for breakfast.

Let’s get to the facts. As of February 3, 2026, Solana is trading at $100, having clawed its way back from a brutal correction that saw it shed nearly 40% from its December highs. Cointelegraph is running with the headline: “Did Solana bottom at $100? SOL price charts hint at a 150% rally.” Technicals are front and center. The price tagged the psychological $100 level, bounced, and now every momentum algo on the planet is running the same playbook: if it holds, we’re off to the races. If it cracks, well, see you at $65.

The broader crypto context is, frankly, a mess. Bitcoin is trapped below $80,000, with liquidation cascades lurking at every failed push higher. Altcoins are a sea of red, except for a few outliers like HBAR, which is getting love from the RWA crowd. Solana, for its part, has been battered by a mix of macro headwinds (strong US factory data, dollar volatility) and micro FUD (network outages, scaling drama, and the ever-present specter of “ETH killer” fatigue). Yet here we are, with Standard Chartered cutting its near-term forecast but still calling for $2,000 by the end of the decade. The analyst consensus? Solana’s “ultra-low-cost” model will dominate micropayments, but only if it can scale without falling apart every other month.

Historical analogs are tricky. Solana has staged monster rallies before, remember the 2021 run from $25 to $260? But those were in a different market regime, when liquidity was cheap and every VC was throwing money at anything with a validator set. Today, the macro is less forgiving. Rates are higher, risk appetite is fickle, and the market is punishing anything that can’t deliver real adoption. Still, the technicals are hard to ignore. The $100 level is clean, visible, and loaded with stops. If the market wants to squeeze, this is the spot.

Here’s where it gets interesting. The on-chain data is showing signs of accumulation. Wallets holding 10,000+ SOL are quietly adding, while exchange outflows have ticked up. DeFi TVL on Solana has stabilized, and NFT volumes, while down from the peak, are no longer in free fall. The market is setting up for a classic “pain trade”, everyone is underweight, the news flow is negative, and yet the price refuses to die. If you’ve traded crypto for more than five minutes, you know what happens next.

Strykr Watch

From a technical perspective, Solana is at a fork in the road. The $100 level is the line in the sand. Below that, the next support is $82, and then it’s a long way down to $65. On the upside, resistance sits at $125, then $145, with the 200-day moving average lurking at $138. RSI is bouncing off 40, suggesting the selloff is losing steam but not yet oversold. Volume is picking up on green days, a classic sign of accumulation. If you’re trading this, you want to see a daily close above $110 to confirm the reversal. Until then, it’s a knife fight.

The risks are obvious. Another network outage, a Bitcoin liquidation event, or a regulatory rug pull could send Solana back into the abyss. The bear case is a break below $100, triggering a cascade to $82 and then $65. On the macro side, a stronger dollar or another spike in Treasury yields could drain risk appetite across the board. This is not a market for the faint of heart.

But the opportunity is real. If Solana holds $100 and reclaims $110, the path to $145 is wide open. The pain trade is higher, as underweight funds scramble to add exposure. For the bold, a long here with a stop at $95 and a target at $145 offers a solid risk-reward. If you’re more conservative, wait for a daily close above $110, then chase the momentum. Just don’t get greedy, this market punishes latecomers.

Strykr Take

Solana is the ultimate crypto Rorschach test. Bulls see a generational buying opportunity, bears see another dead cat bounce. The truth is, the next 10% move will set the tone for the next 100%. If you’re nimble, this is the kind of setup that makes your quarter. If you’re slow, you’ll be the liquidity. Pick a side, set your stops, and let the market do the rest. The only certainty is that it won’t be boring.

datePublished: 2026-02-03 15:32 UTC