Solana is showing early signs of resilience even as spot Bitcoin and Ethereum ETFs extend their losing streak. On January 21 (ET), SoSoValue data showed Bitcoin spot ETFs posted a $709 million net outflow. That marked the third straight day of redemptions.
Ethereum spot ETFs also stayed under pressure with a $298 million net outflow. However, flows into Solana and XRP products moved in the opposite direction, signaling selective demand across the market.
ETF Flows Split as Solana Stands Out
Solana spot ETFs recorded a $2.92 million net inflow for the session. XRP spot ETFs also attracted fresh capital, with a single-day net inflow of $7.16 million.
Besides showing rotation away from majors, the split highlights a shift toward faster networks with high retail interest. Consequently, Solana may benefit as traders search for assets holding up during broad market weakness.
SOL Price Holds Key Support as Charts Tighten
Solana traded at $127.85 with a 24-hour volume of about $4.42 billion. The token rose 1.11% over the last day, although it dropped 11.02% over the week. With roughly 570 million SOL in circulation, the market cap stood near $72.4 billion. However, technical analysts said the current zone may decide Solana’s next major move.
According to Milk Road, Solana reached the lower boundary of a long-term ascending triangle near $127. This level has repeatedly produced higher lows through the trend.
Hence, a weekly close above that range could keep the structure intact. Additionally, the pullback fits a typical compression phase, where price tests support instead of breaking higher.
Curb.sol also pointed to a momentum shift on the 3-day MACD indicator. The analyst said a buy signal appeared for the first time since the $90 lows in April.
Significantly, this type of signal often appears near inflection points during trend resets. If SOL holds above $127, buyers may target $145 to $160 next.
Staking Reaches 70% as Confidence Builds
On the network side, Lark Davis reported Solana’s staking ratio hit a new all-time high at 70%. That figure implied around $60 billion worth of assets now secure the chain.
Moreover, Davis noted Solana ETFs have logged twelve consecutive weeks of inflows. This came despite broader market stress and heavy selling in Bitcoin products.
