Solana
Solana Retreats Under $120 as Momentum Stalls Despite Record ETF Inflows
Solana fell back below $120 after facing resistance near $121, even as US spot ETFs posted record weekly net inflows.
Solana (SOL) retreated to $119.17 on October 1 after fluctuating between $117.23 and $122.52 over a 24-hour window, with 24-hour spot trading volume reaching approximately $4.27 billion according to CoinMarketCap. The pullback occurred as the token repeatedly struggled to establish daily closes above technical resistance at $120.91.
The price consolidation coincided with strong institutional demand. United States spot Solana exchange-traded funds registered a record $188.21 million in net inflows between September 21 and September 25, led by Bitwise's BSOL product, which accounted for approximately 68% of the total volume, according to CoinDesk.
Technical indicators published by TradingPedia reflected mixed signals, showing an active daily uptrend with plateauing short-term momentum. The daily Relative Strength Index stood at 62.11 on September 30, while the MACD histogram flattened to zero as moving averages converged. Key levels defining the current trading range include primary support at $116.58 and critical support at $114.81, with upper resistance markers situated at $120.91, $123.47, and the upper Bollinger Band at $128.88.
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