Solana price prediction: Will $68.86 support hold as SOL slides 3.42%?

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Solana drops 3.42% today to $71.13

Highlights

Spot Solana ETFs attracted $1.06 million in institutional inflows for a third consecutive day, supporting near-term liquidity.
Moody's Ratings began publishing credit ratings on the Solana blockchain for tokenized fixed-income assets, signaling advancing on-chain finance adoption.
SOL/USD remains under strong bearish momentum with all key indicators aligned negative, targeting a short-term trading range of $68.86 to $73.64.

ETF inflows and on-chain credit ratings boost institutional activity despite pressure

Spot Solana ETFs saw institutional inflows totaling $1.06 million on Wednesday, representing a third consecutive day of net investment, according to SoSoValue data. This capital entry into ETF products may enhance short-term liquidity for Solana and help cushion selling pressure in the broader market. Additionally, Moody's Ratings began publishing its credit ratings directly on the Solana network for tokenized fixed-income assets via Alphaledger's platform, as CoinDesk and TheStreet reported, introducing new use cases for on-chain finance — though price action has remained under broader selling pressure.

Bearish momentum intensifies amid oversold signals and resistance zones

On the H1 chart, SOL/USD is positioned below the MA-20 at $72.33 and the MA-50 at $73.22, with the longer-term MA-200 far overhead at $98.74. Immediate resistance is defined by the Ichimoku Kijun at $72.72. Support resides near $68.86, while further resistance is established at $73.64. The MACD and Awesome Oscillator both issue Sell signals, with ADX at Neutral. RSI sits at 37.12, accompanied by readings from Stoch RSI, CCI, and BBP, all of which point to oversold or bearish conditions. BBP confirms sellers dominate intraday sentiment.

Downside risk prevails as range-bound consolidation sets scenario

Over the next 2–3 days, the short-term trading range is likely to remain between $68.86 and $73.64, reflecting typical volatility for SOL/USD at current levels. The probability of an upward move is estimated at 29%, with a 71% chance to the downside. The baseline scenario expects consolidation within this band, while a bullish outcome would require a decisive breakout above resistance at $72.72. Conversely, a bearish scenario could unfold if the pair falls below near-term support at $68.86.

Anton Kharitonov, expert at Traders Union, sees further caution warranted for Solana despite fresh ETF inflows and promising on-chain integrations. He notes that technical signals remain bearish and price action is subdued below key resistance levels. The analyst points out that sentiment and fundamentals are unable to offset current market weakness. "Until we see SOL reclaim levels above $73.64 or a shift in momentum indicators, my tactical outlook stays defensive."

Previously it was reported that analysts saw modest bullish potential for Solana, contingent on improved risk sentiment and technical momentum. The current shift toward institutional inflows via ETFs and new on-chain credit rating use cases adds a fresh layer of support, but with bearish momentum prevailing, traders should closely monitor for any reversal signals as consolidation continues.

Source of Data: SOL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.