Solana price slips – Yet $60M ETF inflows hint at SOL rebound

Solana ETFs continue to record steady inflows even as spot prices fall to multi-month lows.

Daily net inflows have remained positive across most sessions, with peaks above $60 million on 28th October and 3rd November. Total net assets were around $541 million at press time; there’s no meaningful investor walkout.

Source: SoSoValue

While inflows have thinned in recent days, they have not reversed, and cumulative demand has held up through the broader market drop. Large investors are still committed to the asset.

AMBCrypto previously reported that VanEck has filed an 8-A form with the SEC, so its long-awaited Solana spot ETF may be nearing launch, too.

Momentum turns

That strength from ETF flows contrasts with SOL’s weekly chart, where price momentum continues to deteriorate.

The altcoin dropped below the 50-week EMA at $176 and tested the 100-week EMA near $157, a level it last went around in June. Selling volume has increased for two consecutive weeks, so there’s sustained pressure.

Source: TradingView

At press time, the RSI neared oversold territory, while MACD extended its bearish crossover with deeper red bars appearing. The broader trend remains downward, and SOL will need to reclaim the mid-$150s to stabilize its longer-term structure.

Steadier derivatives numbers

Building on that, derivatives data is stabilizing.

Source: Coinalyze

Aggregated Open Interest (OI) held close to the $2.94-$2.95 billion range through the week, avoiding any liquidation-driven drops even as spot prices weakened.

This steady OI means leverage was not being rapidly unwound. Funding rates, which spent most of the period in negative territory, went back above zero and printed around 0.0084 at press time.

Perhaps there’s a return of long-side positioning after days of cautiousness. Traders are beginning to re-enter rather than de-risk further.