Solana price sinks below $180 despite $199m weekly ETF inflows
Solana price is sliding even as new ETF products tied to the token draw hundreds of millions in fresh capital, highlighting a widening gap between institutional inflows and price performance.
- SOL has dropped 5.25% over the past 24 hours, falling to $177 despite strong institutional inflows.
- Solana ETFs drew $199 million last week, pushing total assets past $500M since launch.
- Technical outlook remains weak, with support near $175 and downside risk toward $157 if sentiment worsens.
Solana price is currently trading at $177.15, marking a 5.25% decrease in the past 24 hours and a decline of 7.8% over the past week, according to market data from crypto.news. The sixth-largest crypto asset finds itself among the day’s top decliners, after it slipped below the key $180 psychological level.
The downward spiral is part of a wider selloff rippling across the market. Global crypto market capitalization has fallen by more than 3% in the past day, erasing over $114 billion and pulling the total value down to $3.61 trillion per data from CoinMarketCap.
SOL’s (SOL) decline comes even as newly-launched exchange-traded funds (ETFs) tracking the asset attract strong demand, drawing over $199 million in inflows during their first week of trading. The products, offered by issuers such as Bitwise and Grayscale, have already accumulated more than $500 million in net assets since launch.
However, the enthusiasm for the funds hasn’t translated to price strength. Solana continues to face selling pressure as traders unwind risk positions amid macro volatility. For now, the token’s near-term outlook remains tethered to overall market sentiment. Sustained inflows into its ETFs hint at growing confidence in its long-term prospects, but until market conditions stabilize, that optimism remains largely hidden beneath short-term price weakness.
Solana price analysis
Before the broader market sell-off, Solana had already been in a downtrend since mid-September, struggling to form new highs while setting lower lows.
The asset is now approaching a solid support zone near $175, a level that has reliably held since early August. This zone has repeatedly attracted strong buying interest, signaling that demand remains healthy even as prices retreat.
If bulls step in again to defend $175 and absorb the ongoing sell pressure, SOL could stabilize at this level and attempt to break its current downtrend by reclaiming the $200 mark. A breakout above that point would likely restore short-term bullish sentiment.
However, failure to hold above $175 would paint a bearish picture. Losing this support could trigger a quick drop toward $157, and possibly as low as $142, where Solana bottomed during the October 10 market-wide crash.
Downside risk could be mitigated if market sentiment improves, capital begins flowing back into crypto, and institutional demand continues through Solana’s ETF products. For now, however, the technical structure remains fragile, with the short-term outlook still leaning bearish until a clearer reversal forms.
