KEY HIGHLIGHTS
- Crypto investment products attracted $230M in weekly inflows, with Bitcoin capturing $219M
- Solana brought in $17M for its seventh consecutive week, accumulating $136M total
- SOL currently trades near $91–92, posting 5.64% daily gains while declining 3% weekly
- Technical analysis reveals a rising wedge formation on the 3-day timeframe indicating potential bearish continuation
- Critical price levels: $78 downside support, $95 upside resistance, with $65–70 representing extreme downside scenario
Solana (SOL) is currently positioned in the lower $90 range following a moderate price recovery, though technical indicators are prompting concerns about the sustainability of this upward movement.
Cryptocurrency investment vehicles recorded $230M in aggregate inflows during the previous week, based on CoinShares analysis. Initial weekly momentum showed robust $635M inflows, but market sentiment reversed following the Federal Reserve’s policy announcement, resulting in $405M 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
United States investors dominated regional capital allocation with $153M. German investors contributed $30.2M while Swiss participants added $27.5M.
Bitcoin dominated investment flows with $219M. Ethereum experienced $27.5M in withdrawals, ending a three-week positive run.
[[LINK_START_6]]Solana[[LINK_END_6]] captured $17M during the week, marking its seventh uninterrupted week of positive inflows. This streak accumulates to $136M in total capital inflows.
SOL traded at $91.61 during recent market hours, climbing 5.64% over 24 hours. However, the token remains approximately 3% lower across the seven-day period.
Rising Wedge Pattern Signals Potential Weakness
Market analyst CryptoBullet identified a rising wedge configuration developing on Solana’s 3-day price chart. This technical pattern emerged following SOL’s decline beneath its 200-week moving average, a critical indicator for assessing long-term market 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 structure display diminishing strength. This indicates buying pressure is gradually weakening. A rising wedge following significant price declines typically foreshadows continued downward movement.
Should SOL penetrate the lower wedge boundary, accelerated downward price action may occur. Analyst DrBullZeus identifies $78 as crucial support, with a breakdown scenario potentially driving prices toward $65–70.
Weekly Timeframe Displays Conflicting Indicators
The weekly chart analysis shows the 100 and 200 EMAs maintaining upward trajectories, representing favorable long-term momentum. Conversely, the 20 and 50 EMAs have leveled off, indicating weakening near-term momentum.
Bollinger Bands demonstrate tight compression, a condition that traditionally precedes significant directional price movements. The RSI registers in the mid-30s region — avoiding oversold conditions but confirming seller dominance.
The MACD indicator stays within bearish range, although histogram measurements are contracting, suggesting potential easing of downward pressure.
Chainlink and Hyperliquid recorded modest inflows of $4.6M and $4.5M respectively throughout the week.
Regarding upside potential, clearing the $95 resistance level could propel SOL toward $110–$120. Extended projections from analyst Moonbag suggest $260–$300 targets if SOL successfully recaptures the $180–$200 range.
The Balance of Power metric currently displays negative readings, with selling forces maintaining control according to recent measurements.
