Solana (SOL) extended its decline on Tuesday, falling more than 2% in the past 24 hours to around $152 USD, as investor appetite for altcoins cools amid a surge in Bitcoin dominance.
The drop comes alongside a sharp slowdown in U.S. spot Solana ETF inflows, which fell to $6.78 million yesterday—their lowest level since launch. This marks a steep contrast to the prior 10-day streak of positive inflows totaling $342 million.
Meanwhile, Bitcoin’s dominance has risen to 59.29%, up 0.07% on the day, diverting capital from top altcoins including Ethereum (-1.3%) and BNB (-1.1%). The Altcoin Season Index has slipped to 28/100, reflecting a broader shift toward safer crypto assets amid macroeconomic uncertainty, even after the U.S. Senate narrowly avoided a government shutdown.
Technical Picture Weakens
Solana’s price action has broken below key resistance at $166–$169, aligning with both the 21-day EMA and 0.786 Fibonacci retracement. The move invalidates the uptrend channel that began in April, with SOL now trading under all major moving averages:
| Indicator | Value |
|---|---|
| 10-day EMA | $167.02 |
| 20-day EMA | $174.70 |
| 30-day SMA | $182.30 |
| 50-day EMA | $188.28 |
| 200-day SMA | $180.43 |
Momentum indicators point to weakening sentiment: the MACD (12,26) is at -10.03, RSI (14) has slid to 40.23, and the Stochastic %K reads 32.88—all signaling increasing downside pressure.
Analysts identify $146 as critical support, tied to previous accumulation zones. A daily close above $169, however, could restore confidence and re-ignite ETF inflows.
With key U.S. jobs data due later this week, traders are closely watching whether SOL can find a foothold—or risk deeper corrections in a market increasingly dominated by Bitcoin’s renewed strength.
