Key Highlights
- Crypto investment vehicles attracted $230M in net inflows during the previous week, with Bitcoin commanding $219M
- Solana captured $17M in fresh capital for its seventh consecutive week, accumulating $136M total
- SOL currently trades near $91–92, showing a 5.64% daily gain but declining 3% across the week
- Technical analysis reveals a rising wedge formation on the 3-day timeframe indicating possible further declines
- Critical price zones: $78 acting as support, $95 representing resistance, with potential downside targets at $65–70
Solana (SOL) maintains position in the lower $90 range following a minor price recovery, though technical indicators are prompting concerns regarding the sustainability of this upward movement.
Cryptocurrency investment vehicles accumulated $230M in aggregate inflows during the prior week, per CoinShares intelligence. The week began strongly with $635M flowing in, before sentiment reversed following the Federal Reserve’s policy announcement, triggering $405M in 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 markets dominated regional capital flows with $153M. German investors contributed $30.2M while Swiss markets added $27.5M to the total.
Bitcoin captured the lion’s share of investment activity with $219M in inflows. Ethereum experienced $27.5M in capital outflows, ending its three-week positive momentum.
Solana secured $17M in new investments during the week, marking its seventh uninterrupted week of positive flows. This extends the cumulative total to $136M throughout this period.
At press time, SOL traded at $91.61, registering a 5.64% increase over 24 hours. Notwithstanding the intraday strength, the token remains approximately 3% lower across the previous seven-day period.
Rising Wedge Pattern Signals Caution
Market analyst CryptoBullet identified a rising wedge configuration developing on Solana’s 3-day price chart. This technical pattern emerged following SOL’s breach below its 200-week moving average, a critical benchmark for assessing long-term directional bias.
$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 demonstrate diminishing strength compared to previous attempts. This behavior indicates buyers are facing difficulty maintaining upward pressure. A rising wedge following significant price declines frequently foreshadows continuation of the downtrend.
Should SOL pierce below the wedge’s lower boundary, a more pronounced selloff may materialize. Market analyst DrBullZeus identifies $78 as the primary support level, with breakdown scenarios potentially reaching the $65–70 zone.
Weekly Timeframe Presents Conflicting Indicators
Analysis of the weekly chart reveals the 100 and 200 exponential moving averages maintaining upward trajectories, representing constructive long-term characteristics. Conversely, the 20 and 50 EMAs have leveled off, reflecting decelerating momentum.
Bollinger Bands display tight consolidation, a condition that generally precedes substantial directional movement. The Relative Strength Index hovers in the mid-30s — avoiding oversold territory while demonstrating seller dominance.
The MACD indicator persists in bearish territory, although histogram bars are contracting, suggesting selling intensity may be moderating incrementally.
Chainlink and Hyperliquid recorded more modest inflows of $4.6M and $4.5M respectively throughout the same timeframe.
Regarding upside potential, a decisive move above $95 resistance could propel SOL toward the $110–$120 range. Extended-term forecasts from analyst Moonbag suggest $260–$300 targets if SOL successfully reclaims the $180–$200 territory.
The Balance of Power metric currently registers negative values, with selling pressure maintaining control according to the most recent readings.
