Solana slides below key EMAs as ETF outflows hit record
ITF Team1 min read
Solana (SOL) fell to around $95.48 on Monday, extending a five‑week losing streak while spot ETF withdrawals hit their largest level since launch.
Solana continued its downward trajectory on Monday, trading near $95.48 after five straight weeks of losses. The cryptocurrency’s bearish bias was reinforced by spot Exchange Traded Funds that saw weekly outflows of $71.47 million, the biggest pull‑back since the products were introduced.
Broader crypto market shows mixed signs
- Bitcoin nudged above $78,462 after finding support in key zones, ending a four‑week decline.
- Ethereum recovered to above $2,295 but stayed under its crucial exponential moving averages, keeping its short‑term outlook cautious.
- Ripple posted a modest rebound after recent regulatory news, while Cardano held above its $0.1894 support level despite an 8% drop last Thursday.
What traders are watching
- SOL’s ability to break back above its 20‑day EMA could signal a pause in the sell‑off.
- Bitcoin’s support around $78,000 and Ethereum’s EMA crossover remain key technical thresholds.
- Upcoming data on crypto ETF flows and any further regulatory updates, such as Ripple’s US banking approval, may influence market sentiment.
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This article is compiled from international market news for information only. It is not investment advice.