TLDR
- Solana traded near $90 on November 6 after briefly dipping below that level.
- SOL sits just above its 200-day average of $89.04, with support at $88.30.
- Bitcoin touched about $74,800 as the Nasdaq fell 5.52% on Thursday.
- Strong U.S. jobs data raised bets on a December Fed rate hike.
- Solana ETFs posted $800K in outflows, while Bitcoin ETFs saw $430.2M leave.
Solana (SOL) traded near $90 on Friday, November 6, after briefly slipping below that level during a broad sell-off. Fool.com data showed the token at $90.08, with a day’s range of $89.43 to $91.33.
Bitcoin touched about $74,800, its lowest point since August 21. Ethereum traded at $2,231 and XRP stood at $1.19. The drop erased Bitcoin’s post-election gains.
Stocks set the tone for the move. The Nasdaq Composite fell 5.52% on Thursday, wiping out as much as $2.5 trillion in market value. Asian and European shares also fell on Friday as investors reassessed AI infrastructure spending.
Crypto liquidations topped $1 billion earlier in the sell-off before easing to about $707 million over 24 hours. Leveraged long positions made up most of the early total. The Crypto Fear and Greed Index slipped to 31, which is in the fear range.
Jobs Data Shifts Rate Expectations
U.S. employers added 165,000 jobs in October, well above forecasts of 65,000. Unemployment edged down to 4.1%.
BREAKING: Market expectations for another 25 basis point rate hike December rise to a new high of 80% after the October jobs report.
The US economy added +100,000 more jobs than expected last month. pic.twitter.com/M0tWINRj1C
— The Kobeissi Letter (@KobeissiLetter) November 6, 2026
The stronger figures raised bets that the Federal Reserve will lift rates again in December. The 10-year Treasury yield rose 6.4 basis points to 4.894% in the first reaction.
The next U.S. inflation report is due November 10. Traders may use it to reassess those rate expectations.
Fund flows were also weak. Bitcohttps://coincentral.com/bitcoin-btc-price-weekly-close-could-make-or-break-bitcoins-next-move/in ETFs posted $430.2 million in outflows, while Solana ETFs saw $800,000 leave.
SOL Tests Its 200-Day Average
SOL traded just above its 200-day simple moving average of $89.04. The nearest support is $88.30, and a break below it would put $87 in focus.
A daily close under $85 could expose $80, where buyers may step in. If that level fails, the next downside target is $75.
The daily 14-period RSI read 32.4, just above the oversold threshold of 30. The MACD line sat at −4.46, below the signal line at −3.81, with the histogram at −0.64.
Analyst CryptoBullet pointed to the same setup on X, saying SOL hit the 200-day moving average while RSI entered oversold territory. He asked followers whether they were buying the dip.
$SOL hit the 200-Day MA ✅
RSI entered oversold territoryAre you buying this dip? 😏 https://t.co/5uqKkyVT09 pic.twitter.com/zA0BDBPz0H
— CryptoBullet (@CryptoBullet1) November 6, 2026
For a rebound to build, SOL would first need to clear resistance at $95. A daily close above that level could bring $100 into play, followed by $110.
Motley Fool writer Leo Sun noted that SOL reached an all-time high of $294.85 on January 18, 2025, and is now down nearly 70%. Its 52-week range runs from $60.40 to $171.62, and its market cap is $53.24 billion.
Sun wrote that Solana’s Layer 1 processes 1,000 to 3,700 transactions per second, versus 15 to 30 on Ethereum. He added that Circle, Visa, PayPal and Stripe use the network for stablecoin settlement and asset tokenization.
He also listed macro, competitive and regulatory challenges, including the Democratic takeover of the House and Senate and the CLARITY Act, which failed in a Senate vote earlier this year. Sun said he would stay away from Solana for now.
As of 2:07 AM ET on November 7, SOL was up 0.84% at $90.08, with trading volume near $2 billion.
