🚨 Solana Drops to $102 Even After Samsung's Big News: Why Is $SOL Still Falling?
Good evening everyone, here is tonight's simple $SOL update — different from this morning's Bitcoin post and this afternoon's Ethereum post, because Solana is tonight's big puzzle: good news, but a falling price.
What happened today?
On my live chart right now at about 8:19 PM PKT, Solana is at $102.27, down -1.62% in 24 hours, with a 24h high of $104.79 and a low of $101.25. Earlier today, Oct 18, CoinGecko had SOL at $103.45, down 1.2%, so the selling continued into the evening. $BTC is also soft tonight at $81,200.87, down -0.38%, but SOL is falling much harder.
Why is SOL falling when the news sounds good?
The problem is money flow, not the network. US spot Solana ETFs have now seen 8 straight trading days of net outflows. Stablecoin supply on Solana fell from a $17.45 billion high on Sep 25 to $15.96 billion on Oct 17. In derivatives, about $6.90 million of SOL positions were liquidated in 24 hours, 95.4% of them longs — the biggest single one was $5.80 million at 8:00 PM UTC on Oct 17, which is 1:00 AM PKT on Oct 18.
And the good news that was ignored?
Samsung Wallet will support USDC transfers on Solana across 82 million US Galaxy devices starting in the last week of October, Hong Kong launched its second spot Solana ETF on Oct 13, and active addresses hit 1.88 million, the highest in 13 months. No network outage was reported.
What does this mean in simple words?
SOL's RSI is 22.1, which is deeply oversold, and price is below its 50-day average of $109.35. Oversold does not mean it must bounce today. Everyone is watching $100 — if tonight's low of $101.25 breaks, pressure can grow. Until ETF money returns, good headlines alone are not lifting the price, so please be patient and do not chase.
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Solana #CryptoNews
Good evening everyone, here is tonight's simple $SOL update — different from this morning's Bitcoin post and this afternoon's Ethereum post, because Solana is tonight's big puzzle: good news, but a falling price.
What happened today?
On my live chart right now at about 8:19 PM PKT, Solana is at $102.27, down -1.62% in 24 hours, with a 24h high of $104.79 and a low of $101.25. Earlier today, Oct 18, CoinGecko had SOL at $103.45, down 1.2%, so the selling continued into the evening. $BTC is also soft tonight at $81,200.87, down -0.38%, but SOL is falling much harder.
Why is SOL falling when the news sounds good?
The problem is money flow, not the network. US spot Solana ETFs have now seen 8 straight trading days of net outflows. Stablecoin supply on Solana fell from a $17.45 billion high on Sep 25 to $15.96 billion on Oct 17. In derivatives, about $6.90 million of SOL positions were liquidated in 24 hours, 95.4% of them longs — the biggest single one was $5.80 million at 8:00 PM UTC on Oct 17, which is 1:00 AM PKT on Oct 18.
And the good news that was ignored?
Samsung Wallet will support USDC transfers on Solana across 82 million US Galaxy devices starting in the last week of October, Hong Kong launched its second spot Solana ETF on Oct 13, and active addresses hit 1.88 million, the highest in 13 months. No network outage was reported.
What does this mean in simple words?
SOL's RSI is 22.1, which is deeply oversold, and price is below its 50-day average of $109.35. Oversold does not mean it must bounce today. Everyone is watching $100 — if tonight's low of $101.25 breaks, pressure can grow. Until ETF money returns, good headlines alone are not lifting the price, so please be patient and do not chase.
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Solana #CryptoNews