Solana ETFs have been recording capital inflows for nine consecutive days. Yet the price of SOL is hesitating around the psychological threshold of $100, following a 3% correction in a single session. This disconnect between institutional demand and selling pressure on the chart defines one of the most closely watched setups in the market right now.
$153 Million in One Week: Institutions Are Not Letting Go of Solana
ETFs focused on SOL recorded $153.87 million in net inflows over the past week, extending a nine-day consecutive inflow streak. On August 27, US spot Solana ETFs posted their best single day of the year, pulling in $60.91 million in one session alone. Across the full month of August, inflows surpassed $134 million before the monthly close.
These figures reflect sustained institutional appetite for SOL exposure through regulated vehicles. This type of flow typically signals long-term conviction — large players are not buying in a panic, they are building positions. But as any technical analyst knows, record inflows do not automatically act as a safety net for the spot price.
On the governance side, the Solana network also saw a notable structural shift: validators voted to double the disinflation rate to 30% and establish a new governance framework. However, a proposal to introduce usage-based fees — which could have generated up to 9,000 SOL burned per day — was not passed.
The Chart Tells a Different Story: RSI Retreating, MACD Flattening
SOL is trading around $101.59 after giving up roughly 3% in the previous session. The $100 level represents a major psychological support, and that is precisely where all the tension is concentrated right now. Below it, the next identified support sits at $98.02, while immediate resistance is positioned at $116.88.
Momentum indicators are flashing caution signals. The daily RSI has pulled back to 67 from overbought territory, indicating that buying pressure is losing steam. The MACD is converging toward its signal line from below, confirming that bullish momentum is slowing without reversing sharply. This is not a reversal signal, but a warning that short-term dynamics are losing strength.
The underlying technical structure remains constructive nonetheless. SOL is trading above all three of its key exponential moving averages: the 50-day EMA at $85.05, the 100-day EMA at $82.77, and the 200-day EMA at $89.71. As long as the price holds above these levels, the medium-term bias remains bullish. The real question is whether the $100 support will absorb the selling pressure or whether SOL will go on to test the $98 zone before any potential recovery.
