# Solana Price Recovers Above $100 Despite Significant ETF Outflows Solana maintains resilience as market analysts monitor critical technical support and resistance levels. - **Source:** [DailyCoin](https://brifing.si/source/3e9b0f85-cb2f-40ee-ba61-db9410cf0937) - **Published:** 2026-10-28 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/6aaea1d7-efd8-4b6b-8952-1f64b9626c2b ## Persistent ETF Capital Outflows Solana-based exchange-traded funds have recorded a fourth consecutive week of multi-million dollar outflows. October has proven particularly difficult, with total assets under management shrinking by nearly $100 million since the month began. This trend highlights a significant shift in institutional sentiment compared to the relatively minor $787,000 decline observed back in June. ## Grayscale Asset Reduction Impact The latest balance adjustment originated from Grayscale, which saw its GSOL product dump $19.16 million in assets. This divestment reduced the fund's cumulative net assets to $153.04 million. Such a substantial reduction reflects broader selling pressure on Wall Street, complicating the asset's ability to maintain its current price floor during this volatile period. ## Critical Psychological Price Support Solana has successfully recouped the $102 price level, which is essential for maintaining market confidence. Technical indicators show the lower-tier Bollinger Band sits at $99.21, creating a vital demand zone. Staying above this $100 psychological threshold remains the top priority for bulls to prevent further downside momentum in the current trading environment. ## Technical Targets for Reversal Bulls are currently targeting the mid-tier Bollinger Band at $104.89 to initiate a potential trend reversal. Conquering this level is a prerequisite for reaching the $110 mark, a range that previously served as a support floor during rallies toward $260. Traders are closely watching these moving average ribbons to confirm a sustained bullish breakout. ## Resistance Clusters and Growth Establishing reliable footing above $110 is necessary for Solana to target the $155 level. This path faces significant resistance clusters at $125 and $135, which could impede rapid upward movement. Market participants must monitor these specific price points to determine if the asset can overcome the current bouquet of upper moving average constraints. ## Elliott Wave Bearish Outlook MCO Global Research identifies a swing low at $98.62, suggesting that falling below this point would provide evidence for further downside. The firm’s Elliott Wave analysis points toward a potential downwards 1-2 count. A move below this level would likely fuel bearish near-term bids, contrasting with the current attempts at a bullish recovery. ## Bullish Momentum Requirements According to Elliott Wave-based analysis, a sustained move above $109.20 is required to generate immediate bullish power. Achieving this milestone would allow the asset to contest upper confluent resistances effectively. Until this specific price threshold is crossed on the daily charts, the market remains susceptible to the bearish near-term outlook presented by analysts. ## Market Stability and Outlook The tension between institutional ETF outflows and retail price resilience defines the current Solana market landscape. While technical indicators provide a roadmap for potential recovery, the multi-million dollar drainage on Wall Street remains a persistent headwind. Investors are now focused on whether the asset can maintain its support levels against ongoing macroeconomic selling pressure. ## Sources covering this story - https://dailycoin.com/sol-gains-ground-despite-solana-etfs-posting-huge-outflows/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._