SOL drops to 5-month low despite Solana spot ETF success: Is $100 next?

💡 DMK Insight

Solana’s ETF inflows are impressive, but the price action tells a different story. Despite 13 days of inflows, SOL’s failure to hold above critical support levels raises red flags. Traders should be wary of a potential drop to $100, especially if bearish sentiment continues to dominate. The recent price action suggests that while institutional interest is growing, retail traders might be spooked by the inability to maintain upward momentum. Look for SOL to test the $120 level as a potential support zone; a break below could trigger further selling pressure. Keep an eye on broader market trends, as a downturn in Bitcoin or Ethereum could exacerbate SOL’s struggles. The real story here is the disconnect between inflows and price stability—this could signal a deeper correction ahead if not addressed soon.