2025-11-6 19:20 |
Solana’s recent price action paints a tale of mixed emotions across the crypto market. Despite massive institutional inflows through newly launched ETFs, Solana price has stumbled into a key technical breakdown, unsettling short-term sentiment.
Solana current price is $157.05, down -5.19% in the last 24 hours. Source: Brave New Coin
Institutional Flows Surge, But Solana Price Faces Technical BreakdownCointelegraph reports that Solana ETFs have recorded over $400 million in inflows, signaling strong institutional demand despite recent market weakness. However, the price has broken its 211-day uptrend, a structure that held throughout most of 2024. This technical breach now exposes the Solana price to deeper retracement levels, particularly towards the $138 and $120 zones if selling momentum continues.
While inflows highlight long-term confidence, the short-term outlook remains fragile. Price action suggests that smart money may be rotating rather than accumulating, mirroring prior mid-cycle corrections. Unless the $150 level is quickly reclaimed, Solana price could test lower supports before resuming its broader bullish trajectory.
Tweezers Bottom Pattern Offers Hope at $150The latest analysis highlights a potential Tweezers Bottom candlestick pattern forming on Solana’s daily chart near the $150 support. This pattern, typically a bullish reversal signal, appears after a sequence of lower lows and sharp sell-offs. Early reactions show buying interest returning around this area, suggesting short-term exhaustion in downward momentum.
Solana price forms a potential Tweezers Bottom near $150, hinting at short-term recovery if bulls reclaim $158–$160. Source: Curb.Sol via X
Curb.Sol highlights that for confirmation, Solana price needs a daily close above $158 to $160, which would indicate renewed strength. RSI readings are also approaching oversold territory, historically a precursor to short-term recoveries. If SOL buyers can maintain this base, the next upside targets lie at $178 and later $200, aligning with prior structural resistance.
Liquidity Landscape Shifts, But Market Still FragileLiquidity heatmap reveals that downside liquidity has been almost fully cleared, with new liquidity clusters now forming above $180 to $200. This indicates that major stops and liquidations have already been triggered below current levels, reducing selling depth in the short term.
Liquidity data shows Solana’s downside has been cleared, but recovery faces hurdles as fresh liquidity builds above $180–$200. Source: Ted via X
However, broader conditions remain tied to Bitcoin’s trend. Ted cautions that as long as Bitcoin continues to consolidate or decline, Solana’s recovery may be delayed. Liquidity data shows imbalance, with bids thinned out near $150 and heavier liquidity building higher, meaning potential recovery attempts could face multiple rejections before a decisive trend reversal.
Solana Key Support Levels Now in FocusUmair Crypto outlines a detailed breakdown of Solana’s structural weakness following the loss of the 200-day SMA at $179, which triggered a rapid drop towards $160.88. Both horizontal and trendline supports were breached in this move, signaling a significant shift in short-term trend bias.
Solana loses its 200-day SMA, exposing key supports at $150, $138, and $120 as momentum weakens. Source: Umair Crypto via X
The next crucial zones to monitor are $150, $138, and ultimately $120, the latter representing a full retracement to pre-rally levels. Umair notes that momentum indicators, including RSI, have dipped below 40, consistent with mid-cycle pullbacks seen in earlier phases. Unless the price reclaims $165 to $170, risk of a further slide remains elevated.
Final ThoughtsDespite record ETF inflows and institutional interest, Solana’s technical posture remains under stress. The breakdown from the 211-day uptrend and loss of key moving averages suggest that sellers still hold control, at least in the near term.
If $150 fails to hold, a dip towards $138 or even $120 appears increasingly possible, matching projections from multiple analysts. However, with ETF capital inflows at record highs and on-chain activity still robust, Solana’s longer-term fundamentals may eventually offset short-term weakness, provided buyers can reestablish structure above $160.
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