Overview
- Solana fell to roughly $122–$125 intraday before hovering in the low-$130s, extending a double-digit weekly decline as the market retested a key $130–$134 support zone.
- New spot SOL ETFs have logged consecutive net inflows for more than two weeks, totaling about $476–$499 million, with Bitwise’s BSOL accounting for the majority and new products from 21Shares and Fidelity adding traction.
- Analysts say holding $130 is critical to avoid a slide toward $122 or even near $100, while reclaiming $135–$145 could enable a relief move toward $160 based on emerging double-bottom setups.
- On-chain and holder data point to supply pressures, including Forward Industries moving 1.44 million SOL to Coinbase Prime on Nov. 17 and a drop in the 1–2 year holder share from 19.28% to 17.24% between Oct. 20 and Nov. 19.
- Derivatives positioning amplified the downturn, with long liquidations, elevated funding, and fresh shorts clustering near $140–$150, underscoring resistance into any bounce.