Last week saw over $1.2 billion in outflows from crypto-linked exchange-traded funds (ETFs) as the broader market declined. However, SOL ETFs managed to close the week with positive inflows, a clear sign that institutional investors still favor a bullish Solana price prediction.
Bitcoin ETFs took the strongest hit as investors withdrew nearly $1 billion from these products, while ETH-linked funds saw their assets drop by $432 million.
In contrast, Solana ETFs, including spot versions like the ones managed by REX-Osprey and Bitwise, received $118 million.
Investors seem to have taken advantage of the strong sell-off that SOL experienced, which managed to push the token below $150 at some point last week, to scoop up the asset at a discount.
At the time of writing, the two spot ETFs tied to Solana have attracted a combined $782 million in assets.
Among them, the Bitwise Solana ETF (BSOL) has already taken the lead, despite launching only weeks ago, thanks to its higher staking reward structure which has drawn in more yield-focused investors.
Solana Price Prediction: Bullish Breakout Out of Price Channel Could Push SOL to $300
The daily chart for Solana shows that the token hit a key area of demand at $155, from which it has apparently bounced in the past few days.
The price has been on a downtrend since mid-September as it failed to stay above $200. Nonetheless, ETF inflows lately could be indicating that SOL has hit a local bottom.
If the recovery commences, the price should first break out of that descending price channel. This would also mean a move above the 200-day exponential moving average (EMA).
If that happens, we could see SOL recapturing the $200 area, and it could keep rising to $300 in the near term to finally make a new all-time high.
If SOL manages to reclaim the $200 mark, it could quickly build momentum toward $300 and set the stage for a new all-time high.
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As the game’s popularity increases, so will the demand for its utility token. Hence, analysts expect that $PEPENODE will rise rapidly once the presale ends.
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