- Solana is testing vital supports at $135.50 and $132.84 after being rejected from $144.60
- Inflows for ETFs reach $618.59 million, led by Bitwise’s dominance of $527.79 million.
- Prices continue to be volatile, falling by 30% every month, even as institutional accumulation trends resume.
Solana (SOL) is approaching a crucial technical zone as the market evaluates its next directional move. Token declined below $140, falling to $137 amid broader weakness. Analysts highlighted growing caution as buyers hesitated near resistance. ETF flows signaled strength, yet price movements remained unstable and uncertain.
Key Fibonacci Support Holds Near $135.50
The recent correction occurred after a rejection at approximately $144.60, a value that topped Solana’s transient rebound. Analyst More Crypto Online noted a clear three-wave pullback that led to the price’s first Fib support at the 38.2% retracement, located within the key $135.50 area.
He further added the critical support for next week, which includes $132.84, $130.17, and $126.47. Moreover, a pullback from these areas can trigger a ‘B-wave’ recovery if new buying emerges. Market sentiment is now centered on Solana’s response to its resistance level.
A break above $142.60 may indicate initial strength, although a break above $144.60 could lead to a route towards the higher barrier at $157. Market participants have a guarded outlook as Solana’s technical formation is about to reach a crucial stage.
Over the past 24 hours, Solana is down by 2%, albeit suffering a decline of 30% over the previous month. It had actually touched $143, but then headed lower. However, SOL is up by 8% over the week.
Also Read | Shiba Inu Set for Key Catalysts in December
Market Awaits Solana’s Next Major Move
ETF activity showed renewed strength on November 28 after three weeks of persistent outflows. Grayscale’s GSOL saw a net inflow of $4.33 million, and Fidelity’s FSOL a net inflow of $2.42 million. However, 21Shares’ TSOL had a net outflow of $1.38 million.
Total inflows for each Solana ETF added up to $618.59 million. The total assets managed increased to $888.25 million. The trading volume reached a high of $30.01 million. Bitwise’s BSOL was again the most popular, managing $527.79 million, fueled by institutional demand interested in Solana’s long-term development.
Grayscale’s total inflows stood at $77.83mm, along with $32.30mm for Fidelity’s fund. On the other hand, TSOL saw net outflows of $27.60mm since its inception. The presence of rival companies offering Solana’s underlying asset led to a decrease in asset levels of VSOL, managed by VanEck, and SOLC.
Also Read | Hester Peirce: Crypto Self-Custody Is a Fundamental Right, SEC Signals 2026 Plans
