Solana fell below $100 after U.S. spot SOL ETFs recorded $24.82 million in net outflows over two trading sessions. A reported whale sale and weak technical readings add to the pressure, while one analyst points to $96–$100 as key support.
Solana’s price has fallen below $100 after U.S. spot SOL exchange-traded funds recorded net outflows over two trading sessions. SoSoValue data show investors withdrew $19.16 million on October 27, followed by another $5.66 million on October 28.
The first session was the largest daily withdrawal since December 3, 2025, when the funds lost $32.19 million. However, ETF redemptions alone cannot establish how much of the latest price decline came from institutional selling.
Solana slides 15.41% in a month
Solana traded at $99.71 on October 29, down 2.1% over 24 hours. Its seven-day decline stood at 4.74%, and monthly losses reached 15.41%.
The latest withdrawals pushed October’s reported ETF outflows over $105 million, although cumulative net inflows remain positive at approximately $1.51 billion.
Whale selling adds to the pressure
Blockchain analytics account Lookonchain reported on October 29 that a wallet had sold 1.02 million SOL, worth approximately $104.3 million, over five days. The account linked the activity to an Arkham-tracked entity, but the owner’s identity and the full execution details require independent verification.
The reported sales are a separate potential source of selling pressure from the ETF redemptions.
Analysts watch the $96–$100 support zone
TradingView’s daily indicators placed SOL below its 20-day Bollinger Bands midpoint at $104.46. The seven-day relative strength index measured 34.81, and both readings suggest weak momentum, although neither guarantees further losses.
Crypto analyst CryptoBusy identified the $96–$100 region as a key support area on the four-hour chart. In his assessment, buyers would need a confirmed move above $104–$105 to challenge resistance between $108 and $112.
A daily close below $98.73 would weaken the current support structure, leaving $95 and $90 as potential downside levels.
Source: crypto.news
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