Solana News Today: SOL Price Drops Over 2% as ETF Inflows Slow, Bitcoin Dominance Rises

ey TakeawaysSolana (SOL) price falls over 2% in 24 hours, underperforming the broader crypto market’s 1.06% declineETF inflows slow to $6.78 million, signaling reduced institutional interest.Bitcoin dominance at 59.29% drives risk-off rotation from altcoinsTechnical Breakdown Weighs on SOLAfter multiple failed attempts to clear the $166–$169 resistance zone, Solana reversed lower, losing the short-term uptrend channel established since April. The region aligns with the 21-day EMA and the 0.786 Fibonacci retracement, both acting as strong overhead barriers.According to latest data:10-day EMA: $167.0220-day EMA: $174.7030-day SMA: $182.3050-day EMA: $188.28200-day SMA: $180.43With SOL currently trading below all major EMA and SMA levels, the overall technical picture remains weak. The MACD Level (12, 26) at –10.03 and Momentum (10) at –22.30 reinforce bearish pressure, while RSI (14) at 40.23 shows a slide toward the oversold zone.The failed breakout invalidated prior bullish chart patterns, triggering algorithmic liquidations. Analysts highlight $146 as a key support level, while a daily close above $169 could mark the first sign of trend recovery. ETF Inflows Lose SteamThe U.S. spot SOL ETFs maintained a 10-day streak of positive flows. However, yesterday’s inflow of $6.78 million was the lowest since launch.This slowdown underscores a waning institutional appetite, even as cumulative data remains constructive, with historical net inflow reaching $342 million.. Altcoin Pressure and Risk-Off RotationThe broader crypto market entered a risk-off phase, with Bitcoin dominance climbing to 59.29% — up 0.07% in 24 hours. As a result, altcoins underperformed, and Solana’s 2% decline outpaced Ethereum (–1.3%) and BNB (–1.1%).The Altcoin Season Index has dropped to 28/100, signaling a market shift toward lower-risk assets. Analysts attribute this move to macroeconomic uncertainty. Despite the U.S. Senate voting yesterday to end the 42-day government shutdown, significant uncertainty remains as the financial markets await the release of key economic reports such as the September jobs report. SOL Outlook: Key Levels to Watch In the short term, Solana’s path forward depends on reclaiming the $166–$169 zone, which would reestablish market confidence and attract ETF inflows back to prior levels.If the price fails to close above that range, analysts warn of a potential retest of $146 support — a level that aligns with prior accumulation zones. The oscillator data (Stochastic %K: 32.88, CCI: –53.80) supports the view of neutral-to-weak sentiment as traders await confirmation of trend direction.