$SOL just took $100 back — and I still don't trust it yet.
$SOL is around $102.36, up 1.36% today after dipping to $99.26 (Data: Finnhub, 9:22 PM PKT). That reclaim matters, because $100 is the level everyone watched after SOL slipped under it today.
But US spot SOL ETFs lost $33.1M over three sessions to Oct 28, including $19.16M on Oct 27 alone (SoSoValue). That's institutions selling into the dip, not buying it. The chain itself isn't the problem: Alpenglow went live Oct 21 with ~150ms finality, and DeFi TVL still sits at $5.64B (DefiLlama). So this is a flows story, not a broken-chain story.
My stance is neutral-leaning-cautious. The upgrade gives SOL a real reason to recover, but until ETF money stops leaving, every bounce is guilty until proven innocent.
If $104-$105 breaks, $108-$112 comes into play. If $100 fails again, $96 is next. I'm wrong if SOL closes above $105 with ETF flows turning positive.
Does $SOL hold $100 into tomorrow, or give it back while $BTC holds $80K? Drop your number.
Not financial advice. DYOR.
#Solana #Crypto #Altcoins
$SOL is around $102.36, up 1.36% today after dipping to $99.26 (Data: Finnhub, 9:22 PM PKT). That reclaim matters, because $100 is the level everyone watched after SOL slipped under it today.
But US spot SOL ETFs lost $33.1M over three sessions to Oct 28, including $19.16M on Oct 27 alone (SoSoValue). That's institutions selling into the dip, not buying it. The chain itself isn't the problem: Alpenglow went live Oct 21 with ~150ms finality, and DeFi TVL still sits at $5.64B (DefiLlama). So this is a flows story, not a broken-chain story.
My stance is neutral-leaning-cautious. The upgrade gives SOL a real reason to recover, but until ETF money stops leaving, every bounce is guilty until proven innocent.
If $104-$105 breaks, $108-$112 comes into play. If $100 fails again, $96 is next. I'm wrong if SOL closes above $105 with ETF flows turning positive.
Does $SOL hold $100 into tomorrow, or give it back while $BTC holds $80K? Drop your number.
Not financial advice. DYOR.
#Solana #Crypto #Altcoins
