Solana price was trading at $99.65 and its market capitalization was $59.028B after slipping below the key psychological level of $100. Solana price declined 1.9% in the last 24 hours and moved between $99.09 and $102.48. On the daily timeframe, SOL price has been in a correction since its September high near $125, and it was rejected again at the $109.34 resistance in the third week of October. Despite the fall, OI has held steady at around $2.39B and the funding rate remains positive at 0.0066%, which shows that traders are still holding long positions at this level.
SOL coin is now moving toward the $95.78 support. If buyers step in here, solana price can bounce back toward $109.34. However, a daily close below $95.78 can put the long-heavy positioning at risk and extend the correction further.