• Solana is testing vital supports at $135.50 and $132.84 after being rejected from $144.60
• Inflows for ETFs reach $618.59 million, led by Bitwise’s dominance of $527.79 million.
• Prices continue to be volatile, falling by 30% every month, even as institutional accumulation trends resume.

Solana (SOL) is approaching a crucial technical zone as the market evaluates its next directional move. Token declined below $140, falling to $137 amid broader weakness. Analysts highlighted growing caution as buyers hesitated near resistance. ETF flows signaled strength, yet price movements remained unstable and uncertain.

Key Fibonacci Support Holds Near $135.50

The recent correction occurred after a rejection at approximately $144.60, a value that topped Solana’s transient rebound. Analyst More Crypto Online noted a clear three-wave pullback that led to the price’s first Fib support at the 38.2% retracement, located within the key $135.50 area.

He further added the critical support for next week, which includes $132.84, $130.17, and $126.47. Moreover, a pullback from these areas can trigger a ‘B-wave’ recovery if new buying emerges. Market sentiment is now centered on Solana’s response to its resistance level.

A break above $142.60 may indicate initial strength, although a break above $144.60 could lead to a route towards the higher barrier at $157. Market participants have a guarded outlook as Solana’s technical formation is about to reach a crucial stage.

Over the past 24 hours, Solana is down by 2%, albeit suffering a decline of 30% over the previous month. It had actually touched $143, but then headed lower. However, SOL is up by 8% over the week.

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Market Awaits Solana’s Next Major Move

ETF activity showed renewed strength on November 28 after three weeks of persistent outflows.  Grayscale’s GSOL saw a net inflow of $4.33 million, and Fidelity’s FSOL a net inflow of $2.42 million. However, 21Shares’ TSOL had a net outflow of $1.38 million.

Total inflows for each Solana ETF added up to $618.59 million. The total assets managed increased to $888.25 million. The trading volume reached a high of $30.01 million. Bitwise’s BSOL was again the most popular, managing $527.79 million, fueled by institutional demand interested in Solana’s long-term development.

Grayscale’s total inflows stood at $77.83mm, along with $32.30mm for Fidelity’s fund. On the other hand, TSOL saw net outflows of $27.60mm since its inception. The presence of rival companies offering Solana’s underlying asset led to a decrease in asset levels of VSOL, managed by VanEck, and SOLC.

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