SOL Outflows Drop 83%, But One Factor Keeps Solana Price in Check
Solana's price remains range-bound near $186 as large investor money flow (CMF) stays negative, despite an 83% drop in holder net selling.Summary
Solana (SOL) is trading around $186, down nearly 19% this month, caught between $178 and $209. While net outflows from long-term holders have significantly decreased by 83% since early October, indicating slower selling, the price is being kept in check by a lack of "big money" interest.
The Chaikin Money Flow (CMF) indicator, which tracks large investor activity, has failed to cross above zero, suggesting that major traders are still withdrawing funds or not adding new capital. Even the $132 million inflow into the new Bitwise Solana Staking ETF (BSOL) has not translated into significant spot market demand, possibly due to in-kind creation.
The technical chart setup remains fragile, showing SOL within a broadening rising wedge pattern, which often signals exhaustion. A hidden bearish divergence between the price's lower high and the RSI's higher high suggests the downtrend could continue. For SOL to regain strength, it needs to reclaim $198 and then $209, but a drop below the $178 support could lead to a slide toward $155.
(Source：BeInCrypto)