While digital asset funds recorded significant capital outflows for the fourth week in a row, Solana (SOL) has become one of the few assets still attracting new investments.
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Likewise, SOL price action shows the token stuck in a tight consolidation range around $85, leaving traders watching closely for a decisive move. Recent data also shows that Solana ETFs took in about $31 million in weekly inflows, while broader crypto investment products lost $173 million.
SOL's price trends to the downside on the daily chart. Source: SOLUSD on Tradingview
The inflows into Solana ETFs stand out amid the pullback from the broader market
According to flow reports, crypto funds have faced continued selling pressure, with the United States seeing the biggest pullbacks, while Europe and Canada recorded inflows. Despite the broader risk environment, Solana has attracted new capital in addition to a small group of alternative assets.
The inflows indicate continued institutional interest through regulated investment vehicles, which typically require spot exposure or derivative hedging linked to the underlying assets. Analysts note that such flows could provide stable demand even if market sentiment remains uncertain in the short term.
However, the demand for ETFs has not yet translated into a clear price recovery. Solana continues to trade within a compressed range between around $77 and $90, indicating indecisiveness among market participants.
SOL price offers key support as $92 remains a critical resistance
Technically the SOL Award has entered a consolidation phase after failing to maintain momentum above $90. The token is currently trading above the $85 region, supported by buyers defending the $82 level.
Short-term charts show an ascending channel, with resistance around $88 and a major barrier at $92. Analysts widely believe that a confirmed breakout above $92 is necessary to trigger a stronger rally, with potential upside targets around $95 and $102.
On the other hand, the inability to hold the support could expose lower levels near USD 76.50 or even USD 72. Some technical models are also pointing to a bearish flag, pointing to a possible 25% decline to the mid-60s as selling pressure increases.
Momentum indicators show mixed signals. Oversold readings from several oscillators indicate that selling exhaustion could develop, but trend strength indicators still confirm that a broader downtrend remains intact.
Network growth and long-term prospects keep the bulls interested
Despite the weak prices, developments in the chain continue to attract attention. The total value captured on the network has reached new highs and institutional experimentation with the blockchain has expanded, indicating continued ecosystem activity.
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Longer-term projections remain mixed. Some analysts see evidence of reaccumulation patterns that could support a recovery if key resistance levels are recovered, while others warn that macro conditions and declining risk appetite could limit the uptrend in the near term.
Cover image of ChatGPT, SOLUSD chart from Tradingview