Solana Crashes 10%! What’s Next for SOL After ETF Streak Ends?

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So, Solana’s had a rough weekend. It shed a cool 10% since it hit the heady heights of $140.19 on Sunday, November 30th. Talk about a dramatic fall from grace!

By the time you’re reading this, it’s trading at a modest $126.02, having just suffered its first daily outflow from the spot exchange-traded fund (ETF) on Friday, November 28th. After a 21-day streak of inflows, this was like waking up to a soggy cereal bowl. Yuck.

And the weekend? Don’t even ask. The market was sluggish, and by Sunday night, it was like the entire crypto world collectively tripped over its shoelaces and took a nosedive.

Solana developers have proposed a change that could improve the token’s long-term scarcity – which sounds promising, until you realize it might also reduce staking rewards. Nothing like a little “progress” at the cost of a future payoff. Developers, huh? Always messing with things.

This proposal could be Solana’s most influential tokenomics decision since the big bang – or, you know, since launch. And of course, it hasn’t been approved yet. The million-dollar question: Will this impact the SOL price trends? Stay tuned. Or don’t. It’s been a rollercoaster anyway.

Technical Analysis

The daily timeframe chart is straight-up sad. Bearish is an understatement. If Solana falls below $121.66 (the cyan line), it’s like the crypto version of slipping on a banana peel. Cue the next bearish move. Trust me, it’s coming.

And that $144 mark? The rejection there was more dramatic than a soap opera plot twist. That’s a supply zone that’s not going away any time soon.

On the hourly chart, Solana’s hanging on to its $126.7 support like a toddler clutching their blankie. But don’t get too comfy. This $125-$127 range has been a key demand zone, but even it can’t hold off the inevitable forever. There’s a looming supply zone from $129.7 to $137 – like a shadowy figure waiting to ruin the fun.

Indicator Health Check

Both the daily and hourly timeframes are flashing red. The CMF is below -0.05, signaling major capital outflows. And if you check the Stochastic RSI or moving averages? Yeah, they’re both wearing their most dramatic frown. Definitely not a good look.

Key Levels

Mark these two levels: $121.66 and $144.7. Break one of them, and you’ll know exactly which direction the market is heading. Spoiler alert: it’s probably down.

At this point, further downside seems inevitable. The $95-$105 support zone could make a comeback. Just when you thought it couldn’t get worse.

In the short term, the $125-$127 support area might give Solana a small bounce – think of it as a minor speed bump on the road to more despair. Meanwhile, the $130-$137 range is looking like a nasty resistance zone. Good luck getting through that.

Final Thoughts

  • Last Thursday, Solana was rejected at the $145 supply zone, and Bitcoin’s recent reset forced SOL prices to plummet by 8.65% in just eight hours late Sunday/early Monday. Not great.
  • Solana bulls might find some hope at $121, but let’s not forget that the long-term trend has been decidedly bearish since September. I’d pack a parachute if I were you.

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2025-12-01 16:22