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Solana-focused exchange-traded funds recorded their first net outflows in four weeks as SOL prices weakened.
The outflows marked a shift in institutional sentiment after a month of steady inflows.
SOL failed to sustain a recovery attempt, triggering renewed selling pressure.
Investors reassessed exposure as Solana struggled to hold key technical levels.
ETF flows suggested longer-term positioning turned cautious rather than short-term trading noise.
Capital rotated out of SOL-linked products as confidence faded among larger market participants.
On-chain data showed net realised losses for four consecutive days.
Persistent realised losses indicated growing stress among Solana holders.
Losses erased early January gains following heavy selling pressure late last year.
Underwater holders appeared increasingly willing to exit positions.
SOL broke down from an ascending wedge pattern, confirming bearish technical signals.
The pattern projected a near 10% downside move toward the $128 level.
Solana traded near $133 after briefly touching an intraday low around $130.
Continued ETF outflows and realised losses added pressure to near-term price stability.
Analysts said SOL remains vulnerable unless institutional selling eases.
A recovery above $136 could invalidate the current bearish outlook.
Holding that level may reopen a path toward the $146 resistance zone.
At the time of reporting, Solana price was $131.27.