Price forecast
Solana has slipped to $95.40 on Binance spot as of November 1, effectively printing at the $96 support retest flagged by analyst Alejandro Arrieche on October 27. Every short-term moving average si…
Market analysis includes conditional scenarios, not assured price outcomes or investment advice. Check the data, assumptions and dates cited.
The Arrieche Target Lands
On October 27, 2026, analyst Alejandro Arrieche wrote that “depressed market sentiment should push SOL down to $96 to retest key areas of support that have acted as a bouncing pad for Solana in the past.” As of the November 1 observation, SOL is trading at $95.40 on Binance spot — fractionally below that handle — with a 24-hour range of $95.23 to $96.44 and a 0.60% decline on the session. No target deadline was specified in Arrieche’s call. The fact that price has now dipped through $96 makes the quality of the zone itself the central question; a level cited as support has been breached, and whether it continues to act as a floor or becomes overhead resistance will define the near-term structure.
A Clean Bearish Alignment in the Moving Averages
Every short-term average sits well above spot. The 7-day SMA at $98.24, the 20-day SMA at $102.26, and the 50-day SMA at $109.05 form a declining resistance stack, while the EMA 12 ($99.75) and EMA 26 ($103.37) confirm the same picture. The only structural anchor below price is the 200-day SMA at $88.91. When every near-to-medium-term average trades above the current price, it means each is a potential supply zone on any recovery attempt — not a signal in isolation, but context for how much overhead the market has built up.
Momentum at the Edge
The 14-period daily RSI is 30.08, which the supplied data characterises as the neutral zone, though it sits a fraction above the conventional oversold threshold at 30. The Stochastic oscillator is more unambiguous: %K at 18.15 and %D at 14.52 are both deep in oversold territory. The MACD and its signal line are both registered at -3.6195 — a condition the supplied data characterises as bearish momentum — with the histogram at exactly 0.0000. A histogram reading of zero means the MACD line has just converged with its signal; that can mark a deceleration of selling pressure, but it requires follow-through in subsequent sessions to distinguish a genuine momentum floor from a brief pause within a continuing move.
Bollinger Band geometry reinforces how extended the decline is. Price sits at a %B of 0.0329 — meaning it occupies just 3.3% of the band width above the lower rail at $94.92. The upper band is at $109.60, and the middle band (the 20-day SMA) is at $102.26. The 14-period ATR is $3.69, providing a frame for the scale of daily movement expected relative to those bands.
Derivatives: Open Interest Nudges Up, Funding Stays Flat
On Binance Futures as of the November 1 observation, open interest stood at approximately 8.92 million contracts, equivalent to roughly $850.8 million in notional value — up 1.14% over 24 hours. That is a modest increase, not a dramatic surge. The 8-hour funding rate was reported at 0.0088%, which the supplied data characterises as neutral. At near-zero, neither side of the market is paying a meaningful carry cost to hold positions; this alone tells nothing about directional intent.
The Binance global account long/short ratio at 07:00 UTC on November 1 was 3.1771, with 76.1% of accounts holding long positions versus 23.9% short. The Binance top-trader cohort was more concentrated still at 3.7081, with 78.8% long and 21.2% short. These figures describe the composition of distinct Binance account cohorts at a single point in time — they do not represent broader institutional or retail positioning. A heavily skewed long book near a support test is an ambiguous signal: it can reflect confidence in the zone or indicate a concentration of trapped longs that adds to selling pressure if support fails. The taker buy/sell ratio for the same hour was 1.056 (buy volume 138,162 contracts, sell volume 130,836), characterised in the supplied data as balanced order flow.
The Structure the Market Has to Work With
The supplied key levels place immediate support at $94.94 and strong support at $94.48. Immediate resistance is $96.15 and strong resistance $96.90, with the pivot point at $95.69. With spot at $95.40, price is caught between the pivot and immediate support — a gap of less than $0.50 — leaving very little margin before the next defined level is tested.
Should the $94.48 strong support absorb selling and momentum indicators confirm a turn from current oversold readings, a hypothetical recovery scenario toward the strong resistance level would carry the following structure:
Conditional long scenario (hypothetical, not a recommendation); Direction: long; Entry: $95.40; Stop: $94.48; Target: $96.90; Reward/risk: 1.63:1 (before fees, slippage and gaps).
Stops do not guarantee execution prices. The reward/risk is calculated as (96.90 − 95.40) ÷ (95.40 − 94.48) = 1.50 ÷ 0.92.
The invalidation condition is a daily close below $94.48. That would bring the 200-day SMA at $88.91 into focus as the next meaningful structural reference — and would represent a breakdown through the very zone Arrieche identified as a historic bouncing pad. No dated catalyst to resolve this test is present in the supplied evidence.
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