Two signals are pulling $SOL in opposite directions.
The bearish one: spot SOL ETFs lost $71.5M in the week of Oct 26–30, the biggest weekly outflow since launch, and had $0 net flows on Nov 2–4.
The bullish one: October set a record of 3.3B non-vote transactions, Alpenglow has been live since Oct 21, and Schroders just tokenized an emerging-market debt strategy on Solana via Centrifuge.
Price: ~$95.80 (+4.0% in 24h), rebounding from the Nov 4 low of $89.77.
Key levels
• Resistance: $98 (200-day EMA), $100.70, $103
• Support: $93, $90, $88
Derivatives: open interest $5.8B (+2.7%), funding positive, ~75% of accounts long, so longs are crowded.
My scenarios
🟢 Close > $98 → $100–103
⚪ $88–100 range (CoinEdition sees $88–98 this week)
🔴 Close < $90 → $80
Which signal wins: ETFs or on-chain? Comment below.
Data as of Nov 5, 12:35 UTC. Not financial advice.