Solana falls over 6% as selling pressure persists despite ETF inflows

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Solana slides 6.15% today to $76.58

Highlights

Solana ecosystem activity soared as weekly non-vote transactions topped one billion and active wallets nearly doubled to 29.7 million in two weeks.
U.S.-listed spot Solana ETFs saw fresh inflows of $5.75 million in July, pushing cumulative ETF inflows above $1 billion since October amid outflows from other crypto products.
Despite strong network and ETF momentum, SOL/USD faces sustained price pressure, trading sideways with a projected range of $73.04–$85.29 as technical signals remain mixed and trend confirmation weak.

Ecosystem milestones and ETF inflows challenged by persistent market selling

Solana reported substantial ecosystem growth, with the network surpassing one billion weekly non-vote transactions and a significant increase in active wallet addresses, rising from 16.8 million to 29.7 million over two weeks. Net inflows to U.S.-listed spot Solana ETFs reached approximately $5.75 million in early July, pushing total ETF inflows above $1 billion since their October 2025 launch as other crypto ETFs saw outflows. Tokenized asset activity expanded, with $295 million in NYSE-listed stocks and $8.7 billion in real-world asset transfers taking place, along with new governance features for validators, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees recent Solana gains under threat from persistent long-term weakness. He notes strong technical resistance at the 200-day moving average and warns that rising overbought signals undermine the sustainability of any bounce. ETF inflows and high network activity have failed to reverse current bearish momentum. The price’s proximity to session lows and fading trend strength further add to downside risk. Kharitonov concludes, "Until SOL reclaims the $92.98 region, rallies should be treated skeptically and risk management must remain strict."

Viktoras Karapetjanc, expert at Traders Union, views Solana’s deepening ecosystem growth and strong ETF inflows as major positives for medium-term prospects. He highlights the rapid surge in both transactions and wallet activity, along with over $1 billion in institutional ETF inflows. Despite the recent dip, Karapetjanc asserts the bullish structure remains intact thanks to robust network fundamentals and solid short-term technical support. He states confidently, "SOL offers a high-conviction setup — further growth is likely if buyers defend the $75.26 area in coming sessions."

Jainam Mehta, market strategist, notes that Solana trades between near-term moving averages, signaling an indecisive phase. He observes that overbought oscillators may open a contrarian pullback opportunity, especially with weak ADX indicating trend exhaustion. Mehta comments, "A tactical trade could be considered if price breaks above $76.64 for a quick upside toward $85.29, but downside risk prevails below $75.26."

Mixed technical signals as overbought readings persist below long-term resistance

SOL/USD trades above its 20-day ($74.61) and 50-day ($75.26) moving averages, showing short- to medium-term resilience, but remains beneath the 200-day moving average ($92.98), reflecting ongoing long-term bearish pressure. The Ichimoku Kijun line at $74.01 strengthens support, with immediate levels marked at $75.26 (support) and $76.64 (resistance). Momentum analysis is mixed: bullish MACD and Awesome Oscillator contrast with a weak ADX of 19.83, while RSI (62.11), CCI (105.88), and Stochastic RSI (86.29) all indicate overbought conditions. Bull/Bear Power at 4.83 signals strong intraday buyer dominance, but the Hull Moving Average shifts to a sell bias as volatility registers at 5.40%. Price action fell to $76.58, near session lows.

Earlier, analysts noted that Solana's price performance has closely tracked Bitcoin, with macroeconomic and geopolitical factors overshadowing its strong on-chain fundamentals. With Solana now demonstrating notable resilience in network activity and ETF inflows despite continued macro-driven selling pressure, traders should look to the $73.04–$85.29 volatility band as the critical range to define near-term trend direction.

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

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