Solana ETFs have demonstrated significant strength, attracting substantial inflows, while the price of SOL has experienced a recent downturn, sparking debate about its near-term trajectory.

Solana ETFs Attract Capital

Despite a broader market correction affecting Bitcoin and Ethereum, Solana ETFs have bucked the trend, recording impressive inflows. On November 3, 2025, while Bitcoin spot ETFs experienced $187 million in net outflows and Ethereum products saw $136 million in outflows, Solana ETFs attracted $70.05 million in fresh capital, extending their inflow streak to five consecutive days.

Analysts have described the debut of U.S. Solana ETFs as exceptionally strong, especially considering the redemptions from Bitcoin and Ethereum funds. Bitwise's Solana ETF (BSOL) has led the charge, attracting around $199 million in new capital after launching with $223 million in seed funds. This performance has positioned BSOL as the top-performing crypto ETF of the week, even surpassing BlackRock's iShares Bitcoin Trust (IBIT). Grayscale's Solana Trust (GSOL) has also seen inflows, drawing $2.2 million, and began trading with $102 million in assets after converting from a closed-end product. As of October 28, 2025, GSOL had assets under management of $88,299,212.21, with 7,394,135 shares outstanding and total Solana in trust of 537,197.8598.

The success of Solana ETFs has been attributed to several factors, including growing institutional appetite for alternative layer-one assets, the potential for staking rewards, and capital rotation from Bitcoin and Ethereum. Staking yields on Solana currently fluctuate between 6% and 8% annually, providing an incentive for investors seeking income-generating crypto exposure. Vincent Liu, chief investment officer at Kronos Research, noted that Solana ETFs are surging due to fresh catalysts and capital rotation as Bitcoin and Ethereum experience profit-taking after strong rallies.

SOL Price Loses Momentum

Despite the positive momentum in Solana ETFs, the price of SOL has faced heavy downside pressure. Over the past week, SOL has declined, giving it a market cap of approximately $86.7 billion. On November 4, 2025, SOL was trading near $156.90, down 11% over the past 24 hours.

Technical analysis indicates that Solana is trading below its crucial exponential moving averages (EMAs), suggesting further potential declines unless buyers reclaim higher resistance zones. Immediate resistance stands near $175, where the 20-EMA forms a technical ceiling. A breakout above that level could drive the price toward $183 and $188, levels aligning with the next EMA cluster. However, failure to regain those thresholds could expose the asset to deeper declines. Key support levels are identified at $160 and $155, with deeper losses potentially dragging the price toward $150 and $138.

Several factors may be contributing to the recent price decline, including fragile sentiment in the crypto market, security incidents, and concerns around large token unlock events. A recent $107 million rug pull incident associated with the Libra project has amplified caution among retail investors and contributed to short-term volatility in Solana's price.

Is $120 Next?

The question of whether Solana's price could fall to $120 is a subject of debate among analysts. Some forecasts suggest a potential drop to this level, while others anticipate a rebound. According to Traders Union, predictions point towards $126.82 within a month.

Whether Solana can defend the $155–$160 zone and reclaim the $175 barrier will be critical in determining its short-term trajectory. Rising open interest and recent outflows suggest potential volatility ahead, with leveraged traders preparing for sharp moves. If renewed inflows return and the price stabilizes above $175, SOL could attempt a rebound. However, failure to hold $155 risks exposing the token to further declines.

Conflicting Predictions

Predictions for Solana's price in the near future vary. CoinCodex predicts that Solana's price is expected to increase by 7.21% in the next month and reach $176.63 on December 2, 2025.

ChatGPT sees institutions rotating capital to SOL and predicts a target of $420.