Solana ETFs See First Outflows of $8.2M Amid SOL’s Price Rebound
On November 27, Solana's price surpassed $140, despite Solana ETFs experiencing their first net withdrawal of $8.2 million since launch. This followed a 22-day streak of inflows.
- 21Shares led with $34 million in outflows.
- Bitwise added $13.3 million, Fidelity's FSOL $2.5 million, and Grayscale's GSOL $10.4 million.
- VanEck reported neutral flows.
The SEC's approval of staking for Solana ETFs has incentivized holding through volatility. As SOL trades near $141, most ETF holders are underwater and may not sell at a loss. The average cost basis is around $150, signaling potential sell signals as prices approach this level.
Solana Price Forecast
Despite improving momentum towards month-end, technical indicators suggest weak rebound prospects:
- SOL trades below key moving averages: $142, $152, $168.
- The RSI remains below the 50-line, indicating weak momentum.
- A close above the 20-day MA at $152 could lead to retesting $168.
- Failure to clear this resistance may result in a pullback to $135.
Maxi Doge Presale Update
The Maxi Doge presale, offering high-leverage trading opportunities, has raised over $4.2 million, nearing its $4.5 million target. Each MAXI token is priced at $0.00027, with the next pricing tier imminent.