Solana (SOL) is testing a key support level after a sharp sell-off, with buyers needing to defend the zone to prevent further losses. Meanwhile, token holder net income has returned to positive territory after three weeks of losses, signaling an improvement in combined earnings for stakers and non-stakers.
As of now, according to CoinMarketCap data, Solana is trading at $111.77, with an increase of 2.28% over the past 24 hours and a decrease of 8.09% over the past week.
SOL Price Analysis: SOL Tests $107 Support After Sharp Sell-Off
Crypto analyst BitGuru has identified $107 as a key support level for Solana after a sharp price decline pushed the token toward the $109 area. According to the analyst, buyers need to defend this zone to prevent further losses and give the market a chance to recover.
The technical setup shows that SOL faced selling pressure after moving through a consolidation phase near its recent highs. The Solana price then dropped sharply, breaking below several short-term levels and approaching the $107 support zone identified by BitGuru.
The analyst marked $107 as the critical level to watch. If buyers regain control and selling pressure eases, SOL could rebound toward the 113–118 range. A move into this area would indicate a potential recovery from the recent decline, although the price would still need to overcome resistance along the way.
However, the outlook could weaken if SOL fails to hold above $107. BitGuru warned that a break below this level could trigger another wave of selling, exposing the token to further downside. For now, the market’s reaction around $107 could determine whether SOL stages a short-term recovery or extends its recent losses.
Solana Token Holder Income Surges for Two Straight Weeks
Solana token holder net income has remained above $400,000 for two consecutive weeks, marking a notable recovery after three straight weeks of negative readings. The latest data highlights a reversal in aggregate income for stakers and non-stakers.
According to data shared by SolanaFloor, weekly token holder net income remained negative for three consecutive weeks before rebounding sharply. The latest two readings climbed above $400,000, signaling a return to positive territory following a prolonged period of losses.
The recovery reflects an improvement in the combined income metric for SOL holders. Stakers can earn rewards by participating in network staking, while non-stakers hold tokens without staking them.
Despite the positive shift, sustained income growth does not guarantee an increase in SOL’s market price. Broader market sentiment, trading demand, and network activity also influence its performance. Investors will be watching upcoming weekly data to determine whether Solana’s income recovery can maintain its momentum.
