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Solana Attracts $101.7M Inflows in November Amid 9% Price Drop
Solana Price Movement:
- On December 1, Solana's price fell by 9% to stabilize at $123, continuing November's decline.
- Despite the price dip, Solana saw $101.7 million in net inflows from institutional investors in November.
- Bitcoin and Ethereum led with $2.8 billion and $1.3 billion in inflows, respectively.
- XRP attracted $785 million, significantly outpacing Solana's inflows.
Market Indicators:
- Solana derivatives showed resilience; open interest fell by 11.43% to $6.68 billion, while trading volume surged 75% to $17.76 billion.
- The Breakout Probability indicator suggests a 23.65% risk of further downside for Solana, with a 74.15% chance of an early rebound.
- Momentum indicators show bearish control unless SOL regains $140.
Technical Analysis:
- Solana trades below key moving averages, with resistance at the 50-week average of $176.
- RSI is at 37.25, indicating potential continued bearish momentum.
- If SOL breaks above $140, it could target $155; failure to hold $120 risks a drop to $100.68.
