The divergence between growing institutional exposure and short-term price weakness highlights mounting tension in the market as traders weigh near-term consolidation against Solana’s strong long-term fundamentals.
Institutional Demand Strengthens Through ETF Inflows
Data from the latest ETF tracking reports shows consistent net inflows into Solana-based exchange-traded products, signaling that institutional investors continue to accumulate exposure despite the ongoing correction. Solana’s inflows contrast with mild outflows from Bitcoin and Ethereum ETFs over the same period, suggesting a rotation of capital into high-beta altcoin plays.
Analysts say this steady demand through ETFs reinforces Solana’s growing credibility among professional investors, even as retail sentiment turns cautious following the recent price retracement.
Ali Martinez Points to “Golden Pocket” Support
Crypto analyst Ali Martinez emphasized that Solana is now testing a critical region between $173 and $175, which acts as the first line of defense before the “Golden Pocket” zone between $155 and $148. This Fibonacci-based range, derived from the 61.8% retracement level, has historically triggered strong rebounds during prior corrections.
Solana $SOL needs to reclaim $200 to confirm strength. Only then a rebound to $260 comes into play. pic.twitter.com/mbu8KdRM2p
— Ali (@ali_charts) November 3, 2025
Martinez noted that the failure to sustain levels above $180 could prompt a retest of this support cluster. However, if Solana stabilizes within this pocket, it could set the stage for a new accumulation phase ahead of the next leg up.
MakroVision Charts Reveal Momentum Divergence
Meanwhile, the latest MakroVision analysis shows that Solana’s structure of “higher lows” remains intact, but momentum indicators are softening. The RSI has dropped below the neutral 50 line, reflecting waning bullish strength, while the MACD histogram recently turned negative — its first bearish crossover in nearly a month.
MakroVision’s analysts also identified a clear resistance band between $190 and $200, where repeated rejection candles suggest heavy supply pressure. The firm warns that without a breakout above that range, price action may continue to drift sideways or retest lower Fibonacci supports.
Volume and Technical Context
Trading volume has fallen sharply compared to early October, signaling that buyers are hesitant to add exposure amid uncertainty. On the daily chart, Solana’s structure remains technically healthy, though the slope of recovery waves is becoming flatter — a pattern often preceding consolidation phases.
The asset’s ability to maintain its ETF inflows despite short-term weakness is viewed as a sign of underlying confidence from long-term holders. Should Bitcoin stabilize and broader market liquidity return, analysts expect Solana to reclaim $180 and possibly challenge the $190–$200 resistance range later this month.
Outlook: Correction Within an Ongoing Uptrend
In summary, Solana’s pullback appears technical rather than structural. Indicators point to a short-term cooldown, but growing institutional interest through ETF products and resilient network fundamentals may limit downside potential. If the $173–$175 area holds, traders could soon see renewed accumulation as momentum indicators reset.