Solana (SOL) faces selling pressure as ETF inflows slow and futures sentiment stays bearish
Solana (SOL) extended its corrective move on Monday, with price still trading under key resistance levels and demand remaining soft. SOL ETF inflows were weak for the second straight week, staying below the ~$1M net inflow level.
On the derivatives side, CoinGlass data points to bearish positioning despite higher activity. SOL futures volume jumped, but open interest slipped, a combination consistent with traders closing rather than building longs. Funding moved slightly negative, indicating continued willingness to hold short exposure.
Technically, SOL remained below key moving averages (50- and 200-day EMAs around the mid-$70s). The article highlights support near $73.50 and a lower target around $70.62 if that zone breaks. A bullish shift would likely require SOL to reclaim the descending resistance trendline near ~$77.27, then face resistance around ~$81.92.
For traders, SOL’s near-term bias stays pressured while ETF inflows remain muted and futures sentiment does not improve.
Bearish
This news is bearish for SOL because both spot-style demand signals and derivatives positioning point in the same direction. SOL ETF inflows were positive but too small to drive a sustained accumulation narrative, and the derivatives picture shows longs are not being added aggressively: open interest fell while volume rose, and funding turned slightly negative. Technically, SOL staying below the 50- and 200-day EMAs keeps overhead resistance intact, so rallies may face selling pressure.
Short-term, traders may favor selling rallies or protecting longs while SOL holds below the resistance area around ~$77.27–$81.92. Break below the $73.50 support zone could accelerate downside toward ~$70.62. Longer-term, the setup only improves if ETF inflows broaden and futures sentiment flips to neutral/bullish, enabling SOL to reclaim the falling trendline and moving-average resistance.