In a move that defies recent market weakness, Solana (SOL) Exchange-Traded Funds (ETFs) have recorded impressive institutional demand. In just eight days, Solana ETFs defy market by accumulating over $323 million in capital inflows. This consistent flow of investments underscores strong institutional confidence in the Solana ecosystem, even as the token’s price has experienced a significant 17% correction this week.
Recent data from SolanaFloor highlights the performance of these financial products. Today alone, Bitwise’s BSOL fund added $29.2 million in inflows, pushing the total capital under management for this fund to over $300 million since its launch last week. This robust demand contrasts sharply with the uncertainty permeating broader crypto markets. Analysts interpret this resilience as a clear sign of growing institutional backing for Solana, driven by its renowned efficiency, an active developer community, and its expanding presence in the DeFi sector.
On the other hand, SOL’s price has shown notable short-term weakness. The token is currently trading at $154.52, representing a 2.79% drop in the last 24 hours and nearly 17% over the past week. Despite this decline, Solana maintains a market capitalization of $85.6 billion, with a circulating supply of 550 million tokens, indicating a solid market base.
Is the current price zone an accumulation opportunity for Solana?
Analysts like AltcoinGordon have described the sub-$160 zone as an “exceptional accumulation opportunity.” Their optimism is based on Solana’s long-term uptrend and its historical breakout patterns. SOL’s daily chart shows the formation of consistent higher lows along a rising trendline near $150, suggesting underlying structural strength. After its last rebound from this region, SOL moved above $200 and briefly tested the $270-$290 zone before retracing.
This current correction is viewed by market observers as a typical consolidation phase within an ongoing uptrend. Key support levels near $200 and $230 are identified as important zones for future rebounds. A sustained break above $290 could, according to experts, confirm the next phase of bullish continuation. If buyers manage to maintain control above $145, the next upside target sits around $200. However, a breakdown below that support could lead to another test near $138. Ultimately, institutional inflows and technical structure suggest that Solana remains in a strong accumulation phase, despite its recent short-term declines.
