TLDR
- Solana (SOL) trades near $110.44 after pulling back from above $120 in late September.
- Samsung Wallet and Samsung Pay will support stablecoins on Solana, reaching 82 million U.S. Galaxy devices.
- U.S. spot Solana ETFs saw $4.8 million in net outflows on Oct. 7, with $24.6 million out over seven sessions.
- Daily RSI sits at 44.89 and the MACD is bearish, showing weaker momentum.
- Analyst Trader Symba sees room for a deeper pullback toward $112 and $108.
Solana (SOL) is trading near $110.44 after falling back from the push above $120 in late September. The daily chart shows price testing the lower half of a rising channel.
On the daily chart, SOL opened around $109.50 and reached a high near $110.83. It found a low near $108.67 before settling close to $110.44.
Chart Shows Cooling Momentum
The token has recovered strongly from August lows in the mid-$70s. But the tone has cooled over the past several sessions.
Price remains inside the upward-sloping channel drawn from the August breakout. It lost momentum after failing to hold the $120-$123 region, which leaves the lower channel line and the $109-$110 area as the first key support.
The daily RSI is 44.89, below the neutral 50 mark. The MACD line sits below its signal line and the histogram is negative, matching the recent pullback.
Analyst Trader Symba, posting on X, says SOL looks ready for a deeper pullback. He points out that price has slipped below the lower edge of the upper volume distribution around $116-$117.
$SOL appears ready for a deeper pullback as price slips below the lower edge of the upper volume distribution around $116–$117.
Below this area, the volume profile becomes relatively thin, leaving room for price to move quickly towards $112 and potentially $108. The strongest… pic.twitter.com/Mlgq8GTR2q
— Trader Symba (@Nebulabsxyz) October 8, 2026
Below that area, he notes, the volume profile is thin. That leaves room for a quick move toward $112 and possibly $108.
Symba sees the strongest high-volume support at $102-$106. He says SOL would need to reclaim $118 and hold above $120 to reduce the immediate downside risk.
If $109-$110 holds, a bounce could put $118-$120 back in focus. The upper channel area near $124-$127 would come next.
A break below the channel would shift attention to $103-$105. A broader support band sits near $95-$97.
Samsung Deal and ETF Flows
Solana announced this week that Samsung Wallet and Samsung Pay will support stablecoins on the network. U.S. Samsung Wallet users will be able to send cross-border transfers using USDC starting in the last week of October.
BREAKING: Samsung partners with Solana to bring stablecoins to 82 million US Galaxy devices.
Samsung Wallet users in the US will be able to send money across borders using USDC on Solana, beginning the last week of October. pic.twitter.com/r5KSR92V58
— Solana (@solana) October 8, 2026
The rollout is expected to reach 82 million U.S. Galaxy devices. That gives Solana a wide payments channel.
Developers are also working on Alpenglow, a project aimed at improving confirmation speed and finality.
ETF flows have been less supportive. U.S. spot Solana ETFs saw net outflows of $4.8 million on Oct. 7, following $3.7 million on Oct. 6 and $9.2 million on Oct. 5.
Over the last seven sessions, flows are down $24.6 million. Cumulative net inflows still stand at about $171.2 million, with total net assets near $1.85 billion.
