TLDR

Spot Solana ETFs saw over $400 million in weekly inflows since the October launch.
SOL dropped 16%, breaking a 211-day uptrend and falling to $148.11 on Nov 3.
Solana ETF BSOL leads with $401 million in assets under management by Oct 31.
Failure to hold $155 could send Solana’s price to the $120–$100 range next.

The launch of spot Solana (SOL) exchange-traded funds (ETFs) has seen substantial inflows, indicating strong institutional interest in the cryptocurrency. However, despite the growing ETF demand, SOL’s price has recently broken its 211-day uptrend, raising concerns about a potential further decline. With key support levels under threat, analysts are now wondering if a dip to $120 is on the horizon for Solana.

Solana ETFs Attract Strong Institutional Interest

Spot Solana ETFs have been off to a strong start, attracting more than $400 million in weekly inflows. Bitwise’s BSOL US Equity and Grayscale’s GSOL US Equity, launched in late October, have seen particularly strong demand, with BSOL leading the pack with over $400 million in assets under management (AUM) by the end of October.

According to Bitwise, these ETFs demonstrate strong institutional interest in Solana’s native token, indicating confidence in the network’s long-term growth potential. This is reflected in the impressive $269 million of inflows recorded since the launch of the ETFs on October 28. 

Bitwise’s Solana Staking ETF, BSOL, has been one of the top-performing crypto exchange-traded products globally. As per Bitwise estimates, a $1 billion inflow into Solana ETPs could translate into a potential 34% price increase for SOL, indicating that demand for the asset remains high.

SOL’s Price Faces Bearish Reversal

Despite the inflows into Solana ETFs, SOL’s price action has taken a negative turn. On November 3, SOL fell sharply, losing over 16% of its value and reaching a low of $148.11, the lowest price since July 9.

This marked the breaking of a crucial 211-day uptrend that had been in place since April 7, 2025. With this significant price correction, SOL has slipped below its 50-day, 100-day, and 200-day exponential moving averages (EMAs), signaling potential bearish confirmation.

The price drop also brings SOL closer to testing critical support zones between $170 and $155, an area of limited support. The failure to hold above these levels could see the price drop further, with some analysts suggesting that SOL may head towards the $120–$100 range if the current bearish trend persists.

What’s Next for Solana?

The recent drop in SOL’s price raises questions about the future direction of the asset. For the moment, the cryptocurrency is testing a key daily order block between $170 and $156. This is seen as a critical zone where buyers may attempt to defend the price and trigger a recovery. However, the relative strength index (RSI) for SOL has dipped to its lowest level since March 2025, which could signal that the asset is oversold and may be due for a rebound.

If the price continues to fall below the $155 mark, a deeper correction may be in store. The next potential downside targets could be between $120 and $100. However, a short-term reversal could occur if buyers step in to defend current support levels, providing some relief to the token.

Solana’s Future Outlook

While the launch of Solana ETFs has attracted significant institutional interest, the current price action suggests that SOL’s bullish momentum has stalled. The $120–$100 price range is now becoming a focus for traders and analysts as SOL tests key support levels.

The success of Solana’s ETFs shows that demand for the network is still strong, but the cryptocurrency’s price needs to stabilize to prevent further downside movement.

In the coming weeks, market participants will be watching closely to see whether Solana can reclaim its uptrend or if a deeper correction will unfold, potentially dragging SOL towards the $120 mark.

The post Solana’s ETF Inflows Surge But SOL Breaks Key Uptrend and Slips Below Support appeared first on CoinCentral.

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Filed under: News - @ November 5, 2025 4:32 pm