Will Solana price crash below $90?

Solana price is trading just above a key support level at $90, and failure to hold above the range could lead to deeper losses in the coming sessions.

According to CoinGecko, Solana was trading at $91.33, down 4.3% in the past 24 hours.

However, continued inflows into spot $SOL ETFs suggest institutional demand has not fully weakened despite the latest pullback.

Last week alone, spot Solana ETFs attracted $39.2 million in net inflows, with Bitwise’s BSOL fund accounting for nearly $36 million of the total.

Fidelity Investments’ FSOL ETF added more than $1.8 million during the same period.

Since launch, BSOL has pulled in nearly $861 million, representing about 81% of cumulative inflows across all spot Solana ETFs, which now stand near $1.1 billion.

At the same time, positive developments surrounding the Senate Banking Committee’s upcoming markup of the CLARITY Act could also position Solana for another bullish move if regulatory sentiment improves across digital asset markets.

The legislation has increasingly been viewed by parts of the crypto industry as a potential framework that may encourage more institutional participation in tokens beyond Bitcoin and Ethereum.

Solana price analysis

On the technical side, Solana recently moved above its 100-day exponential moving average for the first time since October 2025.

According to the $SOL/USD 1-day price chart, $SOL briefly pushed toward the $97 region before sellers forced the price back toward the low $90s.

$SOL/USD 1-day price chart. Source: TradingView.

The Murrey Math Lines indicator places immediate support near the $90.46 level, while the next upside resistance zones sit near $95.06 and $97.36.

A daily close below the red mid-range support could expose $SOL to a move toward the $88.16 and $85.85 levels, where previous consolidation zones remain visible.

Meanwhile, the Aroon indicator on the one-day timeframe showed the Aroon Up line dropping toward 0% while the Aroon Down line stayed elevated near 78.57%.

The setup typically signals weakening bullish momentum and strengthening short-term seller control after a failed breakout attempt.

Despite the latest rejection, the broader structure still shows $SOL holding above its recent breakout range near $89 to $91.

If buyers defend that area and reclaim levels above $95, the current structure leaves relatively little resistance before the psychological $120 region following Solana’s 42% correction in February.

On the contrary, analysts have warned that failure to hold above this key support level could deepen losses in the upcoming trading sessions.

https://twitter.com/cryptoknight890/status/2054584876511232374?s=20

Solana treasury company losses could pressure price

However, concerns are also building around the financial exposure of Solana treasury companies after recent disclosures from Forward Industries showed the firm sitting on large unrealised losses tied to its $SOL holdings.

According to a recent filing, Forward Industries held nearly 6.98 million $SOL as of Jan. 15, 2026, with almost all of the tokens staked at a reported gross staking APY of 6.73%.

The company previously disclosed $SOL purchases at an average net cost of about $232.08 per token.

With Solana now trading far below those acquisition levels, the company’s unrealized mark-to-market loss has approached nearly $1 billion based on current market prices.

Forward Industries also reported a net loss of $585.7 million for the quarter ended Dec. 31, 2025, including a $560.2 million loss tied to digital assets. Staking rewards for the same quarter totaled $17.4 million.

Large unrealized losses among publicly traded treasury firms could increase pressure on sentiment if investors begin questioning how long heavily leveraged or concentrated $SOL exposure can remain sustainable during extended periods of price weakness.