BEARISH 📉 : Solana Faces Pressure from ETF Outflows and Weak Market Signals

Solana (SOL) has experienced a price rebound of over 6% after hitting multi-month lows around $80, easing concerns of an immediate breakdown. However, it remains caught between fragile support and resistance, with the $98–$108 range as a critical test if momentum sustains.

Current Market Conditions

SOL is consolidating in the $83–$87 range, seen as crucial short-term support.
Former monthly support at $98-$100 has become resistance, indicating a continued downtrend.
The Relative Strength Index indicates potential stabilization as oversold signals emerge.
The Money Flow Index suggests selling pressure may be waning.
If $85 fails, further downside targets are $78–$80, with deeper support near $70.

On-Chain Data and ETF Outflows

Over 1 million SOL withdrawn from exchanges suggests stress-driven repositioning.
Solana-linked ETFs saw $11.9 million in outflows, the second-largest recorded.
Large ETF outflows could indicate capitulation but also reduce institutional participation.

Key Levels for Recovery

Reclaiming the $98–$108 zone is crucial for a meaningful recovery.
This area represents former support and a psychological barrier around $100.
A move above $108 could shift the trend, while rejection reinforces bearish sentiment.

Overall, Solana's market remains in a wait-and-see phase, with traders monitoring whether support holds or if further declines precede stabilization.