NEW YORK / LONDON (IT BOLTWISE) – Solana is experiencing a dramatic price decline despite the success of its spot ETFs. Institutional investors continue to show interest, but weak inflows and the overall market trend are pushing the price to a five-month low. Experts warn of further declines if key support levels are broken.
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The Solana blockchain is currently in the financial world’s spotlight as its spot ETFs continue to attract investors despite a difficult market environment. Over the past thirteen days, these funds have seen continuous inflows, highlighting the ongoing institutional interest in Solana’s native cryptocurrency, SOL. Solana ETFs added $1.49 million last Thursday, bringing cumulative inflows to $370 million, according to data from SoSoValue. The total assets of these ETFs now exceed $533 million.
The Bitwise Solana ETF (BSOL) was the only fund to see inflows on Thursday, although they were the weakest since launching on October 28. This development reflects the overall bearish sentiment in the market as spot Bitcoin ETFs recorded net outflows of $866 million on the same day, marking the second-worst day since their launch. Spot Ether ETFs also reported $259.2 million in outflows, reducing their cumulative inflows to $13.3 billion.
Although demand for Solana ETFs continues, this has failed to keep the price of SOL above key support levels. Technical analysis suggests a possible deeper correction. Over the past week, SOL has fallen over 34%, reaching $142 on Friday, its lowest level since June 23. This correction broke both the 100-week SMA and the multi-year uptrend that began in January 2023. The price is currently testing a daily order block around $140, a level with limited support.
Glassnode’s UTXO Realized Price Distribution (URPD) shows that there are few buyers defending the price below $140. Should the price fall below this level, it could decline towards the 200-week SMA at $100, which is the last line of defense for SOL price. Weakness in the relative strength index, which has reached its lowest level since April 2025, supports this downward move. A break below $150 could push the SOL/USDT price to $126 and then to the solid support at $100.
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