Solana Holds Firm as ETF Inflows Plunge 99 Percent

Solana’s native token, SOL, is holding steady around $120 despite a dramatic slowdown in ETF inflows. After four consecutive positive sessions, the cryptocurrency faces a test as demand for Solana-focused ETFs plummeted by roughly 99%. Last week, these ETFs recorded only $2.43 million in net inflows, a sharp decline from the previous week’s $188.22 million. Although this marks the 14th straight week of positive inflows, the slowdown raises questions about whether the demand is pausing or signaling a longer-term trend.

Despite weaker ETF activity, Solana’s network activity remains robust. According to SolanaFloor, the network’s decentralized exchange volume on Sunday surpassed the combined volume of Ethereum mainnet and Layer-2 networks, highlighting strong usage. Additionally, tokenized-stock trading volume on Solana exceeded $4.4 billion, indicating growing interest in blockchain-based exposure to traditional equities. These metrics suggest that ecosystem participation is continuing, even as investment through ETFs moderates.

Technically, SOL remains in a mildly bullish position, trading above key moving averages on the four-hour chart. However, the price is approaching the boundaries of a narrowing triangle pattern, which suggests consolidation between nearby buying and selling levels. The next upside hurdle is the resistance trendline around $123, followed by September’s high at $124.95. A confirmed breakout above these levels could target $132.87, but this remains conditional on sustained trading above resistance. Support is concentrated between $118.71 and $119.25, with further downside levels at $116.43 and $110.44.

For now, SOL’s technical bias favors a modest bullish outlook, but the next move will depend on whether buyers can defend support and overcome resistance. The distinction between slowing inflows and sustained network activity will be crucial in determining Solana’s short-term trajectory.