Solana Plunges to 5-Month Low: Is $100 the Next Stop?

Solana drops to a five-month low near $142 as ETF inflows slow and technical support weakens. Analysts warn of further declines, with key support at $133-$138 and potential risk toward $100 if sentiment does not improve.

Solana has experienced a significant decline, dropping to a five-month low of around $142, with technical indicators and on-chain data revealing weakening momentum and a sharp support gap below $144. Despite 13 consecutive days of inflows into Solana spot ETFs, the pace of these inflows has slowed, reflecting a cooling market sentiment and raising concerns about further price drops, potentially toward the $100 mark. Technical analysis shows persistent weakness, with the RSI indicating oversold conditions and the MACD remaining negative. Trading volumes have plateaued, and recent rallies were largely ETF-driven, making the price highly sensitive to changes in institutional demand. The loss of key support levels has triggered liquidations of long positions, and the next critical support is identified between $133 and $138. The broader market environment is defensive, with increased fear and a shift toward stablecoins. While fundamentals remain solid, the current correction highlights the importance of monitoring ETF inflows, technical signals, and support zones for Solana's short-term outlook.