Solana ETF inflows collapsed 99% but SOL holds firm: what are bulls seeing
Solana is consolidating around $120 on Monday after four consecutive positive sessions, with its recovery facing a test from sharply weaker ETF demand. SOL remains above its key moving averages on the four-hour chart, preserving a mildly bullish technical structure. However, price is approaching the narrowing boundaries of a triangle, leaving traders watching for a decisive move. Network activity provides a counterweight to the slowdown in fund flows, with reported strength in decentralized exchange trading and tokenized equities. ETF inflows drop nearly 99% Solana-focused ETFs recorded $2.43 million in net inflows last week, according to CoinGlass data . That compares with $188.22 million the previous week—a decline of approximately 98.7%. Although the funds extended their positive streak to 14 consecutive weeks, the latest total shows a substantial reduction in fresh allocations. The distinction is important: demand slowed sharply, but the funds did not experience a net weekly withdrawal. The figures suggest ETF buying offered much less support than during the preceding week. Whether that represents a temporary pause or a more persistent slowdown will depend on subsequent flows. ETF activity also captures only one channel of SOL investment. It does not provide a complete measure of buying and selling across exchanges, decentralized markets, and other investment vehicles. Solana’s network continued showing signs of active usage despite softer ETF inflows. According to SolanaFloor, the network’s decentralized exchange volume on Sunday exceeded the combined volume of Ethereum mainnet, Ethereum Layer-2 networks and Hyperliquid. https://twitter.com/SolanaFloor/status/2106817883032760546 The comparison highlights strong activity during that session, although one day’s performance does not establish a lasting lead. The platform also cites more than $4.4 billion in tokenized-stock trading volume on Solana. That points to growing activity around blockchain-based exposure to traditional equities. The supplied figures do not specify the measurement period for that total. It should therefore be distinguished from the Sunday DEX comparison rather than treated as a daily reading. Together, the reports support a picture of continued ecosystem participation, even as investment through ETFs moderates. Solana technical forecast: Triangle pattern keeps breakout levels in focus On the four-hour and daily charts, SOL remains above its 50-, 100-, and 200-period exponential moving averages, positioned around $119.24, $116.43, and $110.44. A rising support trendline near $119.16 and overhead resistance around $123 form the triangle. This narrowing structure suggests price is consolidating between nearby buying and selling levels. The pattern alone does not determine which direction the eventual breakout will take. Daily momentum remains constructive. The Relative Strength Index is near 54, while the Moving Average Convergence Divergence indicator is mildly positive. Those readings favor a modest bullish bias rather than an especially strong momentum surge. The immediate upside hurdle is the resistance trendline around $123, followed by September’s high at $124.95. A confirmed move above both levels would strengthen the case for extending the recovery. The Fibonacci projection places the next potential target at $132.87. That target remains conditional on a successful breakout. A brief move above resistance followed by a reversal would provide weaker confirmation than sustained trading above the cluster. Initial support is concentrated between approximately $118.71 and $119.25. That area combines a Fibonacci level, the rising trendline, and the 50-period EMA. Holding it would help preserve the short-term recovery structure. A decisive break below the cluster would bring the 100-period EMA near $116.43 into focus. The 200-period EMA around $110.44 sits further below. For now, SOL’s technical bias remains mildly bullish, but its next move depends on whether buyers defend nearby support and generate enough demand to overcome resistance. The post Solana ETF inflows collapsed 99% but SOL holds firm: what are bulls seeing appeared first on Invezz