Solana Struggles at $156 as ETF Inflows Battle Macro Headwinds and Corporate Selloffs
As of this writing, Solana (SOL) is trading at $156, down 5.3% in the last 24 hours. The sixth-largest cryptocurrency is facing more and
Quick overview
- Solana (SOL) is currently trading at $156, down 5.3% in the last 24 hours, facing pressure from technical resistance and market instability.
- Despite recent record ETF inflows and new US Treasury staking regulations, SOL has underperformed compared to the altcoin market over the past two weeks.
- On-chain metrics show a 10% increase in active addresses and an 8% rise in transactions, indicating fundamental strength despite price weakness.
- For SOL to reach its target of $250, it must overcome resistance levels and navigate macroeconomic challenges, with a timeline extending to 2026.
As of this writing, Solana SOL/USD is trading at $156, down 5.3% in the last 24 hours. The sixth-largest cryptocurrency is facing more and more pressure from both technical resistance and the wider market’s instability. SOL is still stuck in a fight between bullish on-chain measures and bearish macro conditions, even if there have been solid fundamental events like record ETF inflows and new US Treasury staking restrictions.
SOL/USD Technical Analysis Points to Key Support and Resistance Zones
From a technical point of view, Solana has hit a lot of resistance at the $172 level, which it briefly challenged on Monday before falling back. This price movement is similar to the Nasdaq Index’s, which fell after CoreWeave decreased its revenue prediction and trade tensions between the US and China rose over access to rare-earth minerals.
The current technical setup shows that $165 and $162 are important support levels, while $155.10 is a stronger floor. If selling pressure rises, a drop below these levels might lead to more losses. SOL has shown strength by staying above the $156 barrier, which is significant for the mind, which suggests that there is still desire in buying it.
In the previous two weeks, SOL has done 7% worse than the rest of the altcoin market, even if there isn’t a clear reason for the decline. This difference is especially interesting because things are becoming better in Solana’s ecology.
Record Solana ETF Inflows Provide Institutional Tailwind
The debut of Bitwise’s Solana Staking ETF (BSOL) on October 28 changed the way institutions invest in SOL in a big way. The product made an amazing $420 million in its first week, giving it a first-mover advantage that competitors are now trying to match. Grayscale, VanEck, Fidelity, and Invesco have all changed their plans to speed up the launch of their own Solana ETFs.
Since their US debut, total spot Solana ETF inflows have reached $343 million. The REX-Osprey SOL + Staking ETF has also gained $286 million in assets. According to experts from JPMorgan, cryptocurrency ETFs might bring in $14 billion in their first six months. Of that, $6 billion could go to Solana products especially.
Also, new US Treasury laws that let regulated crypto goods receive staking rewards are likely to greatly increase staking activity on Solana, giving institutional investors another reason to participate.
Onchain Metrics Reveal Fundamental Strength Despite Price Weakness
The fundamentals of Solana’s network tell a very different story than its pricing chart. In the last 30 days, the number of active addresses went up by 10% and the number of transactions went up by 8%. On the other hand, Ethereum had a 5% loss in active addresses and a 26% drop in transactions. During the same time, even Hyperliquid, a growing rival in the DEX space, saw onchain activity drop by 28%.
Solana still makes the most money from decentralized applications, and no other blockchain comes close. The total value locked (TVL) in the network is $12 billion, which is a lot more than BNB Chain’s $8 billion. Growth is getting more varied across sectors. For example, Securitize (Real World Assets) is up 35%, Solstice USX (Basis Trading) is up 31%, and Meteora (Liquidity Pools) is up 10% in deposits during the past month.
Corporate Selloffs Create Near-Term Headwinds
SOL has good foundations, but corporate treasury cuts are putting pressure on it. Galaxy Digital Holdings just sold 439,621 SOL, which has people worried about how long corporate reserve tactics will last. Forward Industries, on the other hand, still owns the biggest stake at 6.82 million SOL, which has stayed the same for the past 30 days. Upexi said that its Solana treasury had an unrealized gain, which helped its net income rise from a deficit of $1.6 million the year before to $66.7 million.
Solana Price Prediction: Path to $250 Depends on Macro Environment
Solana’s technical and fundamental indicators point to several short-term paths in the future. The short-term prognosis depends on if SOL can go back above the $165-$172 resistance zone and stay there. If the price breaks over $172, it could go up to $200. If it doesn’t hold the current support level of $156, it might go back down to the 2025 recovery low of about $95.
For SOL to reach its ambitious $250 goal, a number of things need to happen. Tensions in the AI sector’s supply chains need to calm down, the tech market as a whole needs to normalize, and corporate selling pressure needs to go down. Given its better onchain growth and DApps income supremacy, SOL is more likely to do better than the rest of the cryptocurrency market. However, it will probably take until 2026 to reach $250 instead of the short term.
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