Solana Rally Over? SOL Risks 2022-Like Correction As Price Erases Mid-Week Recovery

Solana (SOL) dropped 7% to $84, erasing mid-week gains and falling back into its $78-$88 consolidation range after failing to hold above the breakout level. Despite the price decline of 57% since SOL ETF launches, institutional demand remains strong with $1.5 billion in ETF inflows, though analysts warn of potential deeper correction similar to 2022.

• →SOL dropped 7% to $84, erasing most of its mid-week gains and falling back into the $78-$88 consolidation range.
• →Analysts suggest SOL could face a deeper correction similar to 2022 if it loses key support levels at $123.28 and $99.06.
• →Despite SOL being down 57% since ETF launch, Solana ETFs have attracted $1.5 billion in flows with strong institutional participation.
• →SOL ETFs experienced their first negative day in over a month with $5.23 million in outflows on Thursday.
• →Market conditions resemble early-stage bear market behavior according to technical analysts.