Solana News Update: Solana Faces $190 Barrier as ETFs Counteract Negative Tech Trends

Solana (SOL) has managed a slight rebound following an extended period of sideways movement, with the token now hovering around $169 and approaching a significant resistance at $190. This uptick comes after a notable drop that pushed SOL below the important $165 threshold, briefly touching support at $163.85 during a bout of increased volatility, as

. Over the last 24 hours, trading activity jumped by 58% above the norm as SOL struggled within a fragile downward trend, repeatedly failing to break above $170.50, highlighting persistent bearish sentiment. Nonetheless, renewed demand has surfaced, especially near the $145 support area, where the price has remained stable for more than a week, suggesting possible accumulation by both institutional and retail investors, as . This chart illustrates the turbulent price swings and key levels shaping market sentiment.

The recent recovery aligns with a spike in ETF activity, which has brought in $118 million in new investments over the past week, raising the total inflows for the year to $3.3 billion, as

. Bitwise’s ETF (BSOL) has stood out, attracting $312 million in inflows over eight straight days, while Grayscale’s GSOL ETF has trailed behind, as . These capital inflows have provided crucial support for Solana, which has recently underperformed the broader crypto sector by 1.42% compared to the CoinDesk 5 Index (CD5), as . In addition, Circle’s recent issuance of 1.25 billion tokens on Solana has increased the network’s total stablecoin supply to $13.825 billion, further reinforcing Solana’s status as a major stablecoin platform, as .

From a technical perspective, the outlook is mixed. The $145 level has demonstrated strength, with several price rejections forming wicks, but the journey to $190 remains challenging, as

. The 0.618 Fibonacci retracement coincides with this support, providing additional evidence for a possible reversal, as . However, the 50-day, 100-day, and 200-day exponential moving averages have all been breached, confirming a bearish trend on the daily timeframe, as . indicators like the RSI and MACD remain subdued, with the RSI near 40 and the MACD below zero, as . A comprehensive 30-day price chart for Solana highlights crucial support and resistance zones, along with key technical indicators such as the RSI and MACD. This visualization helps gauge the probability of a lasting bullish move. A clear break back above the $180–$200 range—where the value area high and the 50-day moving average converge—would be needed to confirm a sustained upward trend, as .

Adoption of stablecoins by institutions is also on the rise, with Paystand’s acquisition of Bitwage expanding USDC and USDT payroll services to over 90,000 employees. This highlights the increasing role of stablecoins in international payments, with stablecoin transfers in 2025 projected to reach $9 trillion—almost half of Visa’s yearly volume, as

. Solana’s low transaction costs and high throughput make it a preferred choice for these applications, further strengthening its place in the DeFi landscape.

Despite these encouraging signs, certain risks persist. ETF inflows have recently slowed, with net inflows dropping to $6.78 million from a high of $70 million in early November, as

. Experts warn that if SOL falls below $145, it could test deeper support levels between $120 and $100, especially if broader economic challenges continue, as . The overall market’s reliance on the Federal Reserve’s policy decisions adds further uncertainty, as hawkish signals have already led to $360 million in crypto outflows, as .