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Solana falls 25% in a month to about $81 as ETF outflows stretch to five weeks
Analysts split on whether $78 holds; spot SOL ETFs have not seen a net inflow day since 21 October
Key takeaways
- Solana's SOL traded near $81 on 12 November, down about 25% over the past month, according to CoinGecko data cited by CryptoPotato.
- Spot SOL ETFs have posted five consecutive weeks of outflows, with the last net inflow day on 21 October.
- One analyst said $78 is a key test, with $63 to $66 possible if it breaks.
- Others expect a rebound, with one calling sub-$100 SOL a buying opportunity.
- Exchange netflows have favoured inflows in recent months, which the report links to selling pressure.
The decline and the ETF outflows
Solana's SOL token traded around $81 on 12 November, down roughly 25% over the previous month, according to CoinGecko figures cited by CryptoPotato. Spot SOL exchange-traded funds have recorded five consecutive weeks of outflows, the report said, and their last day of net inflows was 21 October.
The report links that to conservative investors such as hedge funds and pension funds reducing exposure to the asset. Exchange netflows also point the same way: inflows have dominated outflows over the past few months, which the report reads as more holders moving coins to centralized platforms, adding immediate selling pressure.
Where the bulls and bears put the levels
Analysts cited by the report disagree on what comes next. One X user writing as Mookie said the price is approaching "a big test" at $78 and that a break below could bring $63 to $66 into play. Another, Sweep, said holding above $83 could set up a major rally, while failing to hold might trigger a severe pullback.
On the bullish side, an analyst writing as ZAYRO ₿ said SOL is nearing the end of what they called its manipulation phase and forecast a large rally, saying they are "accumulating spot aggressively." Two other X users, Ted and Curb, also gave bullish readings: Ted pointed to liquidity zones around $90 and $100 and expected a relief bounce, while Curb called a bottom near $80 and projected a move above $1,000.
What is not settled
The forecasts above are analyst opinions, not reported outcomes, and the sources give no timetable for any of the levels. The report does not say what would reverse the ETF outflows, and none of the analysts quoted set out conditions beyond the price levels they named.
CryptoPotato's article carries no statement from Solana's developers or from the ETF issuers on the outflows.
Sources
1 reportThis article was prepared by BattleTown Newsroom from the reports listed above.
Frequently asked questions
How much has Solana fallen?
SOL traded around $81 on 12 November, about 25% lower than a month earlier, according to CoinGecko data cited by CryptoPotato.
What price levels are analysts watching?
One analyst cited by the report named $78 as a key test, with $63 to $66 possible below it. Another pointed to $83 as the level to hold for a rally, and bullish analysts cited zones around $90 and $100.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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