Solana Forecast for Feb 23: Where Next as Parabolic SAR Resistance Caps Bullish Moves?

Solana exhibits strong bearish momentum on the daily chart with Parabolic SAR firmly capping rallies overhead and Awesome Oscillator deep negative. Where next?

Solana (SOL) is trading at $79.14, posting a sharp 7.1% decline over the past 24 hours within a range of $77.32 to $85.45. The live chart displays a pronounced downward slope throughout the session, with a steep vertical drop in recent hours followed by only a minor 1-hour recovery (+1.5%). Broader performance remains deeply negative: SOL is down 6.9% over the past week, 37.9% in the last 30 days, and a substantial 53.7% over the past year.

Meanwhile, treasury holdings stand at 18.3 million SOL, reflecting ongoing protocol and ecosystem accumulation that could provide some underlying support. Trading volume remains robust at over $3.6 billion in 24 hours, signaling active participation even amid the downturn. Traders are closely monitoring whether this dip attracts dip-buyers near current levels or risks further extension toward fresh multi-month lows.

Solana Price Prediction

On the daily chart, Solana’s Parabolic SAR sits at $91.199, well above the current price near $79.19. The SAR dot remains above the candles, delivering a clear and ongoing bearish signal.

This dynamic resistance could cap every recovery attempt during the ongoing decline, confirming that sellers are still in full control and that any rallies will likely face strong selling pressure until a decisive daily close above $91.19 flips the SAR bullish.

The Awesome Oscillator reinforces the bearish outlook, sitting at -15.498 in negative territory. The histogram shows an extended stretch of red bars reflecting strong downside momentum, though the most recent bars have turned green, indicating that the speed of the decline is now slowing.

While this creates a hint of positive momentum divergence and the possibility of a short-term relief bounce, the AO remains decisively negative. Together, both indicators maintain a clear bearish bias for Solana until the SAR flips and the AO crosses back above the zero line.

Solana Futures Flows

Solana futures flow data reveal short-term bullish pressure, contrasting with longer-term bearish sentiment amid the token’s recent decline. In the immediate 1-hour window, net inflows reached $11.18M (inflows $127.47M vs. outflows $116.30M), pushing a net change of -19.57% and a modest 0.025% net inflow relative to market cap. 

The 4-hour period strengthened this trend with $20.22M net inflows (+117.31% change), while 8-hour flows remained marginally positive at $568K. However, the picture shifts decisively over extended periods: 12-hour flows turned negative at $125.26M (-208.10% change), escalating to $165.92M over 24 hours (-792.67% change), -$180.08M over 3 days, and -$200.92M over 5 days. Net inflow/MCap ratios ranging from -0.28% to -0.45%.