Solana Price Prediction: SOL Drops 2% as Grayscale Calls It an Overlooked Bet

Solana price prediction for October 16 stays cautious below $107, the level $SOL needs to reclaim after breaking below its rising trendline.

Solana Price Analysis: Can $SOL Hold Above Its 100-Day EMA?

$SOL trades near $102.01, down 2% today, after breaking below a rising trendline that had supported price since late August. That trendline now sits near $109, so today’s close puts $SOL firmly below it for the first time since the uptrend began.

Solana price has also fallen below the 50-day EMA at $107.07 and the 20-day EMA at $111.00, both of which capped recent bounces on the way down.

The 100-day EMA at $99.43 is the next support, with a shaded zone around $96 to $97 marking an area of prior consolidation from mid-September that could act as a floor if the decline continues.

Related: Cardano Price Prediction: ADA Drops 2.5% as Longs Take $4M in Liquidations

$SOL Support and Resistance Levels for October 16, 2026

$SOL News: Grayscale Calls Solana an Overlooked Bet Right Now

Grayscale’s head of research, Zach Pandl, said at Token2049 cited by Coinage that smart contract platforms including Solana, Ethereum, and $BNB Chain aren’t a “consensus trade” among crypto-native investors right now, with many instead favoring revenue-focused plays like Hyperliquid or privacy assets like Zcash.

His view is that tokenization, stablecoins, and tokenized deposits will all run on these platforms regardless of which narrative is currently popular, calling it a reason not to “sleep on the classics.” Pandl also said Grayscale believes Bitcoin bottomed around $58,000 in late June, with the recovery since holding up despite a difficult macro backdrop.

$SOL News: Solana Foundation Opens Shanghai Office, Runs Skyline Ads

Solana Foundation chief strategy officer Rachel Conlan, who joined the foundation in September after serving as Binance’s global CMO, shared images of a new Shanghai office and Solana advertisements running across the city’s skyline, according to Wu Blockchain.

Related: Meme Coins Price Prediction: Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE)

Binance founder CZ responded that he was surprised Solana secured both advertising space and an office in China, noting that $BNB Chain had not managed to do so, adding, “hopefully, what’s good for one industry player is also good for the rest.”

$SOL News: Tokenized Equities on Solana Pass $4.4 Billion in Monthly Volume

Solana hosted roughly $4.4 billion in tokenized stock trading volume last month, with more than 1.4 million holders choosing from over 2,000 tokenized equity products backed by $620 million-plus in circulating supply, according to Solana Sensei.

The account said 63% of Solana’s equity trading volume happens outside normal US market hours, pointing to growing use of tokenized equities as DeFi collateral in a market that trades around the clock. These figures come from a single account and haven’t been independently verified.

Related: Walrus Price Prediction: Can WAL Build on a 50% Weekly Gain?

Solana Price Prediction: Can $SOL Reach $111 or Fall to $96?

Bullish Case, Target: $111

$SOL holds the 100-day EMA at $99.43 and reclaims the broken trendline near $109. A close back above the 50-day EMA at $107.07 would open the path toward the 20-day EMA at $111.00, with continued institutional and ecosystem news adding support.

Bearish Case, Risk Level: $96 (Prior Consolidation Zone)

$SOL loses the 100-day EMA at $99.43, confirming the trendline break carries further downside. A close below the $96 to $97 consolidation zone would expose the 200-day EMA at $97.55 as the next test, and continued weakness would risk a deeper pullback toward the September lows.

Solana Price Prediction FAQs