Solana Price Falls Below $180 Despite $199M ETF Inflows

Solana (SOL) has dropped below $180, with its price around $175, reflecting a 6.4% daily decline and a 12% weekly correction. Despite institutional inflows into Solana ETFs reaching nearly $199 million in one week, the price remains unstable, influenced by broader risk-off sentiment across markets.

Solana's market weakness is partly due to global economic uncertainties, despite strong underlying fundamentals.
The blockchain has reported annualized revenue of $2.85 billion, growing significantly faster than early-stage Ethereum.
Developers and partners, including Western Union, are engaging with Solana for projects like stablecoin development.
Technical indicators show consolidation below major moving averages, with support at $172 and resistance between $188 and $192.
The RSI indicates oversold levels, but a significant rebound depends on a broad recovery in market sentiment.

Solana's near-term outlook remains cautious, with potential declines if $172 support fails. However, reclaiming $189-$200 could signal a short-term bullish turn. Analysts believe Solana’s advantages in speed and scalability position it well against Ethereum, expecting price recovery post-market stabilization.