Solana Breaks Below Critical Support Amid Market Turmoil

The cryptocurrency market came under heavy selling pressure on Jan. 29, 2026, as risk sentiment deteriorated across global markets. Bitcoin dropped more than 5% to around $84,250, triggering a wave of liquidations that rippled through the broader crypto ecosystem.

The sell-off followed a combination of macro and geopolitical stress. A hawkish stance from the U.S. Federal Reserve reinforced tighter financial conditions, while escalating U.S.–Iran tensions added to uncertainty, prompting investors to reduce exposure to risk assets.

This content is delivered by Outset PR, where crypto-native communication meets data-driven intelligence. 

High-beta assets amplify downside

Solana (SOL), often viewed as a high-beta asset within the crypto market, amplified the broader move. As leveraged long positions were forced to unwind, selling pressure intensified. Liquidations add immediate supply to the market, accelerating declines when liquidity thins.

Market-wide sentiment reflected this risk-off shift. The CoinMarketCap Fear & Greed Index remained at 38, firmly in “Fear” territory, underscoring fragile confidence among traders.

SOL key support level breaks

Against this backdrop, SOL fell below a critical technical level. Price broke under the $117.58 swing low support and traded down to around $115.44, confirming a loss of short-term structure.

The break of a widely watched support level often triggers stop-loss orders and invites additional selling from short-term traders. Once such levels fail, former support zones frequently turn into resistance, limiting the strength of any rebound.

How Outset PR Optimizes PR Budgets and Delivers Tangible Results

The purpose of any PR campaign is to boost brand visibility. Traditionally, this has meant securing as many publications as possible, often with unpredictable outcomes. It was difficult to know how many readers would actually see a story, leaving much of PR to guesswork. 

Actually, it had been guesswork until analysts of Outset PR developed Syndication Map—a proprietary tool that identifies which outlets attract the most traffic and where a story is likely to achieve the strongest syndication lift. Senior Media Analyst Maximilian Fondé explains:

If a company needs a top list article, we filter the table for media that publish this format, cross-check costs and placement conditions, and know within minutes which outlets to pitch. Over time, that builds into a comprehensive database of crypto-friendly publishers – something other players in the industry don't have right now.

Smarter Campaigns, Lower Costs

Campaigns built with Syndication Map are not about mass reach for its own sake. They are carefully crafted to serve specific goals. By narrowing the focus to the most effective outlets, Outset PR reduces unnecessary spending on low-impact publications.

Another key factor is communication. Outset PR’s dedicated Media Relations team, led by Anastasia Anisimova, has earned the trust of leading outlets through professionalism and genuine relationships.

Sincerity and friendliness are our core principles, earning us the trust of numerous media outlets. Unfortunately, not all agencies in our industry prioritize friendliness in their communications.

Extended Reach Through Syndication

Outset PR campaigns also achieve more visibility than clients initially pay for. Articles are frequently republished across aggregators and platforms such as CoinMarketCap and Binance Square, extending exposure far beyond the original placement. Well-placed articles can achieve up to ten times the outreach of the original post.

The case of StealthEX demonstrates this effect clearly: targeted tier-1 pitching led to 92 republications across outlets including CoinMarketCap, Binance Square, and Yahoo Finance, generating a total outreach of over 3 billion.

Outset PR Sets a New Standard  

Pitching to a major outlet still has value, but syndication often delivers far greater reach at a lower cost. Outset PR has mastered this strategy, combining proprietary tools, strong media relations, and syndication opportunities to deliver results backed by numbers.

Momentum indicators favor sellers

Technical momentum continues to point lower. The MACD histogram is deeply negative at -1.46, signaling sustained bearish momentum rather than early signs of stabilization. At the same time, the 14-day relative strength index (RSI) stands at 42.68, indicating weakening momentum without reaching oversold conditions.

This combination suggests sellers remain in control, with room for further downside before technical exhaustion becomes a factor.

Levels to watch next

With $117.58 no longer holding, attention shifts to lower Fibonacci retracement levels. The next major zone sits near the 78.6% retracement around $124.14, which now acts as resistance rather than support. Any recovery attempt is likely to face selling pressure below this level unless broader market conditions improve.

For now, Solana’s price action reflects a market driven by macro stress and liquidation-led selling. Until volatility subsides and buyers reclaim lost structure, downside risks remain elevated.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.