Solana Rejects $100 Level Amid High Leverage and Overbought Signals
Solana (SOL)
Editor:
Eugene Serbin
u.today reports that Solana's attempt to break above $100 has failed after briefly trading above $102 and retreating to approximately $97. This rejection invalidates the immediate breakout target, though the broader bullish recovery is not yet considered over. SOL has gained roughly 27% over the last 30 days and 26% over the past seven days, overcoming key technical obstacles like the long-term moving average currently at $89.50.
The asset's rapid expansion from the mid-$70s has pushed the RSI to roughly 79, indicating overbought momentum. Derivatives positioning appears aggressive, with Binance's SOL/USDT long/short ratio sitting at approximately 2.07. This imbalance has already resulted in about $17.51 million in SOL positions being liquidated within a single day.
Futures flows show a net outflow of roughly $60.77 million over 12 hours, suggesting potential for further deleveraging. Despite the rejection, trading volume increased significantly during the breakout, indicating strong participation. The immediate level to monitor is now $89–$90 rather than $100. A daily close below $89.49 would expose $84 and move SOL below its primary long-term trend indicator.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 27 August 2026. Not the outlet's figures.
Whalio data shows SOL trading at $102.07 with a 24-hour buy ratio of 53.7%, indicating a slight majority of buyers over the full day. However, the 1-hour buy ratio dropped to 47.6%, suggesting short-term selling pressure is currently outweighing buying interest. The 4-hour buy ratio stands at 56.4%, showing that medium-term buyers are still more active than sellers. Volume delta reflects this shift, with a negative $1,373,026 in the last hour compared to a positive $7,424,829 over four hours. Volume delta measures the net difference between buy and sell volume; a negative figure means more volume was sold than bought. The 24-hour volume delta remains positive at $19,185,180, confirming that cumulative buying has dominated the day despite recent intraday weakness.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Twenty-four hours later
What SOL did over the 22 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, SOL maintained a consistent buying trend with net buying occurring on all seven days. The 7-day average buy ratio was 52.5%, which is lower than the current 24-hour ratio of 53.7% by 1.2 points. This indicates that today's buying intensity is slightly above the weekly average. Total volume delta for the week reached $175,409,002, while today's spot volume was $257,329,058. The current day's volume is 0.57 times the weekly average daily volume, suggesting that while price action is strong, the total volume traded today is lower than the typical daily average over the past week.