Solana Bulls Struggle to Defend $130 as ETF Demand Faces Unlock-Driven Sell Pressure

Solana (SOL) is holding just above the key $130 support level, where bulls are trying to stabilize the price. While institutional inflows via spot ETFs and major technical upgrades continue to provide long-term optimism, recent token unlocks and weak price structure are fueling downward pressure. SOL is trading between $125 and $150, with critical support in the $125–$130 zone and first resistance at $140–$145. Since October 2024, the token has lost more than 40% from its highs near $200.

ETF Inflows Remain Strong, But Sentiment Is Cautious Despite the price correction, Solana remains one of the most favored altcoins among institutional investors. In 2025 alone, spot ETFs tracking SOL have absorbed over $600 million in net inflows, while some Bitcoin and Ethereum products have seen outflows. These ETFs create structural demand that could help drive a short squeeze, if key technical levels are broken to the upside.

Technical Outlook: Key Levels in Focus The chart shows a persistent downtrend since November, with repeated rejections near $180. Now, the price is hovering just above dense support at $125–$130, awaiting a catalyst. 🔹 Bullish case: If $125–$130 holds, a move toward $140–$145 is possible, with a breakout opening the door to $155. 🔹 Bearish case: A decisive close below $125 would confirm further downside toward $115–$120, continuing the downward momentum.

Fundamentals Remain Strong Long-Term Despite short-term fragility, the Solana ecosystem continues to strengthen. Major infrastructure upgrades like Firedancer and Alpenglow are scheduled for 2025–2026. These are aimed at improving throughput, latency, and reliability — addressing historical outages and making the network ready for institutional use. At the same time, Solana is seeing growing adoption in real-world asset (RWA) tokenization, emphasizing its long-term potential. However, short-term sentiment remains cautious due to macroeconomic risks and ongoing token unlocks, which continue to weigh on the market.

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