Key Highlights
- Cryptocurrency investment products attracted $230M in weekly inflows, with Bitcoin capturing $219M
- Solana secured $17M in fresh capital for its seventh consecutive week, accumulating $136M total
- SOL currently hovers near $91–92, posting a 5.64% daily increase while declining 3% weekly
- Technical analysis reveals a rising wedge formation on the 3-day timeframe, suggesting bearish continuation
- Critical price zones include $78 support floor and $95 resistance ceiling, with potential downside to $65–70
Solana (SOL) maintains a position in the lower $90s following a minor rebound, though technical indicators are casting doubt on the sustainability of this upward movement.
Cryptocurrency investment vehicles recorded $230M in aggregate inflows during the previous week, based on CoinShares analysis. The week began strong with $635M in capital flows, but market sentiment reversed following the Federal Reserve’s policy announcement, resulting in $405M of mid-week withdrawals.
From March 16 to March 20 (ET), Bitcoin spot ETFs recorded net inflows of $95.18 million, marking four consecutive weeks of net inflows. Ethereum spot ETFs saw net outflows of $59.94 million. SOL spot ETFs recorded net inflows of $21.10 million, while XRP spot ETFs saw net… pic.twitter.com/oI6NJjhwZl
— Wu Blockchain (@WuBlockchain) March 23, 2026
The United States dominated regional capital flows with $153M. Germany contributed an additional $30.2M, while Switzerland accounted for $27.5M in inflows.
Bitcoin captured the lion’s share of investment activity with $219M. Ethereum experienced $27.5M in withdrawals, ending a three-week streak of positive flows.
Solana attracted $17M during the past week, marking its seventh straight week of positive inflows. This extended streak has generated a cumulative $136M in new capital.
At press time, SOL traded at $91.61, reflecting a 5.64% gain over 24 hours. However, the token has declined approximately 3% across the seven-day period.
Technical Pattern Signals Potential Reversal
Market analyst CryptoBullet identified a rising wedge formation developing on Solana’s 3-day chart. This technical structure emerged following SOL’s decline beneath its 200-week moving average, a critical indicator for assessing long-term price trends.
$SOL 3D chart
This Rising Wedge looks horrendous
Most likely it will be resolved to the downside 📉
(Trend continuation) pic.twitter.com/0mN75G0KVK— CryptoBullet (@CryptoBullet1) March 22, 2026
Successive rallies within the wedge pattern are exhibiting diminishing strength. This behavior indicates buyers are losing the ability to maintain upward pressure. When a rising wedge forms after a significant decline, it frequently precedes a continuation of the downtrend.
Should SOL breach the lower boundary of the wedge, a more substantial selloff may materialize. Analyst DrBullZeus identifies $78 as a key support level, with a breakdown scenario potentially driving prices toward the $65–70 range.
Longer-Term Timeframe Presents Mixed Picture
Examining the weekly chart reveals that the 100 and 200 exponential moving averages continue their upward trajectory, indicating constructive long-term positioning. Conversely, the 20 and 50 EMAs have entered a consolidation phase, reflecting diminishing momentum.
Bollinger Bands display tight compression, a condition that historically precedes significant directional movements. The Relative Strength Index registers in the mid-30s — avoiding oversold territory but confirming seller dominance.
The MACD indicator persists in bearish territory, although decreasing histogram bars suggest selling intensity may be gradually weakening.
Chainlink and Hyperliquid recorded more modest inflows of $4.6M and $4.5M respectively during the same period.
For the bullish scenario, a decisive move above $95 could propel SOL toward the $110–$120 zone. Extended projections from analyst Moonbag target $260–$300, contingent on SOL recapturing the $180–$200 range.
The Balance of Power metric currently registers negative readings, confirming sellers maintain control according to the most recent data.
