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Solana's current price action
Solana (SOL) remains in a fragile trading range amid cooling outflows and weak buyer interest. SOL has declined roughly 4% over the past week and about 19% month-on-month, oscillating around $186 as investors weigh technical and on-chain indicators.
Flows, whales and ETF staking impact
On-chain data shows withdrawals from holder accounts have slowed dramatically — outflows are down roughly 83% — yet the absence of meaningful whale inflows limits upward momentum. The Chaikin Money Flow (CMF) has not returned above zero, implying that large investors are still largely net sellers. Bitwise’s SOL staking ETF (BSOL) recorded an inflow of about $132 million, but most of that supply came from existing SOL reserves rather than fresh capital, so spot demand saw little benefit.
Technical outlook and key levels
Technical indicators add to the caution: the Relative Strength Index (RSI) shows a hidden bearish divergence that often precedes further downside. Analysts say that for SOL to resume a bullish trend it needs to reclaim $198 and secure a close above $209. Conversely, a break below $178 could expose SOL to a drop toward the $155 support zone.
What traders and investors should monitor
Market participants should watch CMF readings, whale wallet activity, and fund flows into staking ETFs like BSOL to gauge real demand. For long-term crypto investors, a sustained recovery will depend on renewed institutional buying and improved spot liquidity that translates on-chain interest into higher prices. Until those signals appear, Solana’s path remains uncertain.
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