A 6-Day Solana ETF Drought Just Ended, but Price Bounce Faces an Immediate Problem
Solana's price rose slightly after its spot ETF saw its first positive inflow in six days, but a potential rally is threatened by selling pressure on exchanges.Summary
Solana (SOL) price is currently around $79.30, experiencing a small increase following the first positive net inflow into its spot ETF in six trading days, totaling $932,850. This inflow breaks a streak of negative or zero activity since late March. A bullish divergence on the daily RSI chart suggests a potential price bounce. However, exchange data reveals a significant increase in SOL flowing onto exchanges, indicating potential selling pressure. Historically, similar patterns have weakened prior rallies, raising the question of whether institutional investment through the ETF can overcome this selling. The article highlights a crucial price level at $79.06, with a break below potentially leading to further declines, while reclaiming $82.62 with continued ETF inflows could confirm a sustained rally.
(Source：BeInCrypto)