Solana Faces Technical Test as ETF Outflows Reach $114 Million
Photo: ETHNews
Solana ETFs recorded $114.2 million in net withdrawals between October 19 and November 6. Reclaiming the 0.618 Fibonacci retracement at $91.40 is the immediate technical priority. Futures open interest remains near $2.6 billion despite declining prices. Alpenglow introduces validator fee burns, adding a new dimension to SOL’s tokenomics. Solana faces a difficult recovery as ETF investors withdraw capital while derivatives traders maintain substantial exposure, creating a potentially volatile setup around a critical technical resistance level. SOL traded near $89.86 on November 7, roughly 28% below its October peak.
Source: ETHNews
