Convergence

Divergence

Solana

<p style="text-align: justify"><a href="https://en.coin-turk.com/coinbase-launches-cbbtc-enabling-bitcoin-use-on-solana-blockchain/" rel="noopener noreferrer nofollow">Solana</a> continued its downward trend on Thursday, approaching a critical $100 threshold. Persistent outflows from Solana-based exchange-traded funds (ETFs) and weak technical indicators weighed on sentiment, with SOL last trading at $101.82.</p>
<h2 id="etf-redemptions-put-pressure-on-solana-price">ETF redemptions put pressure on Solana price</h2>
<p style="text-align: justify">Solana-focused ETFs recorded eight consecutive trading sessions of investor withdrawals. Data from CoinGlass shows these funds posted $1.3 million in net outflows on Wednesday, following a total of $24.81 million withdrawn the previous week.</p>
<p style="text-align: justify">This consistent trend of redemptions signals continued weak demand for exposure to Solana via regulated investment products. With SOL nearing the psychologically important $100 level, the absence of support from ETF inflows is adding to downside risk.</p>
<p style="text-align: justify">ETF flows only represent one segment of the broader Solana market. However, a shift back to inflows could signal renewed confidence in the asset, particularly among institutional and large-scale investors.</p>
<h2 id="tokenized-equity-growth-highlights-network-adoption">Tokenized equity growth highlights network adoption</h2>
<p style="text-align: justify">Meanwhile, Solana’s network continues to see rapid growth in tokenized equities, even amid price declines. According to Blockworks, the supply of tokenized equities on Solana reached nearly $611 million on Tuesday, spread across around 1.42 million holders.</p>
<p style="text-align: justify">These figures underscore Solana’s growing role as a blockchain platform for tokenizing traditional financial assets. Nevertheless, expanding network activity has yet to provide immediate price support for SOL tokens themselves.</p>
<p style="text-align: justify">The disconnect between positive ecosystem developments and short-term market performance illustrates how technology adoption and token price action can move independently.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Tokenized equities, also known as digital representations of traditional stocks on a blockchain, allow users to own and transfer shares in a decentralized and programmable environment. This structure provides potential advantages in settlement speed and cross-border access, but adoption remains at a relatively early stage compared to conventional equity markets.</p>
<p style="text-align: justify">For Solana, the rise in tokenized equity usage signals broader recognition as a network for financial applications beyond digital assets alone.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Metric</th>
   <th>Value</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>SOL price (latest)</td>
   <td>$101.82</td>
  </tr>
  <tr>
   <td>October price drop</td>
   <td>13%</td>
  </tr>
  <tr>
   <td>ETF net outflow (Wednesday)</td>
   <td>$1.3 million</td>
  </tr>
  <tr>
   <td>ETF net outflow (previous week)</td>
   <td>$24.81 million</td>
  </tr>
  <tr>
   <td>Tokenized equity supply</td>
   <td>$611 million</td>
  </tr>
  <tr>
   <td>Unique tokenized equity holders</td>
   <td>1.42 million</td>
  </tr>
 </tbody>
</table>
<h2 id="technical-analysis-key-levels-and-downside-risks">Technical analysis: Key levels and downside risks</h2>
<p style="text-align: justify">Solana entered October with a double-top reversal near $122, which was followed by a drop below its 50-day Exponential Moving Average (EMA) at $107.13. This resistance level capped the most recent recovery attempt, keeping prices under pressure.</p>
<p style="text-align: justify">The Moving Average Convergence Divergence (MACD) remains below both its signal line and the zero line, indicating consistent negative momentum.</p>
<p style="text-align: justify">At the same time, the Relative Strength Index (RSI) is close to 35, showing that the market is trending bearish but not yet oversold. Should SOL dip beneath its 200-day EMA at $97.95, technical analysts view the May 17 high near $83.50 as the next notable support level.</p>
<p style="text-align: justify">Solana’s $100 mark is now the immediate psychological barrier, while $107.13 is the first technical resistance on any rebound. For a sustained recovery, buyers would need to push SOL above these benchmarks with increased momentum.</p>
<blockquote>
 <p>With ETF withdrawals persisting and technical signals remaining weak, market focus has shifted to whether buyers can defend the $100–$97.95 support zone amid ongoing selling pressure.</p>
</blockquote>
<p>The post <a href="https://en.coin-turk.com/solana-drops-below-102-as-etf-outflows-extend-for-eighth-straight-day/" rel="noopener noreferrer nofollow">Solana drops below $102 as ETF outflows extend for eighth straight day</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Solana drops below $102 as ETF outflows extend for eighth straight day

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