Solana news: SOL lost 15% this week despite recording seven consecutive strong sessions for its Solana ETF funds.
The ETF recorded $29.2 million over the last 24-hours and reached a total inflows of $323 million.
Meanwhile, SOL price reached a pivotal moment in its technical outlook after slipping below the 23.6% Fibonacci retracement level at $165.65 and is now testing support around $155.
This decline points to fading momentum as investors grow more cautious with the fear and greed index clocking fear.
The shift also reflected an overall trend in the market, where traders are moving away from altcoins and turning to Bitcoin as a safer option during periods of uncertainty.
Solana ETF Inflows Surpassed $300M
Farside Investors reported consistent Solana ETF inflows for seven straight trading days beginning on October 28, with Bitwise’s BSOL US Solana ETF attracting $312.1 million in inflows, even as Bitcoin and Ethereum products saw money flow out.
Over the same period, Bitcoin ETFs lost $1.1 billion, while Ethereum funds recorded $465 million in outflows.
Analysts pointed out that the difference was striking, especially given the overall market backdrop. Solana’s new ETF products continued to gain traction. While established funds faced steady redemptions, Solana drew consistent demand.
SOL Price Sheds 15% To Test Ascending Support
Solana (SOL) price approached a potentially decisive moment on the charts and tested an ascending support line that has held firm since midyear.
This area, sitting around the mid-$150 range, has acted as a reliable base during previous corrections. The Relative Strength Index (RSI) is flashing early signs of bullish divergence.
Even as Solana’s price has slipped lower, the RSI has carved out higher lows — a hint that selling pressure may be easing and momentum starting to turn.
If this support holds, Solana could be setting up for a rebound. A steady bounce from current levels would confirm the shift and could set off a short-term recovery.
But if the price breaks cleanly below support, the next key level sits near $140. For now, the market’s watching whether Solana can hold this line and turn a fading slide into the start of its next move higher.
The MACD histogram turned negative at –2.63, strengthening the bearish outlook, while the seven-day simple moving average near $175.73 stands as an immediate resistance and a key turning point.
Future Outlook For Solana Price & ETF
Unless Solana climbs back above $165, momentum still leans to the downside. A close below $155 would put the next key support near $146.75 in play — a level that previously acted as a floor.
Buyers could step in there, but if that line gives way, the sell-off may deepen quickly.
Meanwhile, expert analyst CryptoBusy shared a developing double-bottom pattern on the Solana chart, forming between the $146 and $150 range.
This formation signals weakening bearish momentum and the early signs of a potential reversal.
The neckline for confirmation sits near $170, and a clean break above that level could ignite the next upward move.
The setup is starting to show real strength as trading volume ticks higher on recent rebounds.