Solana ETF Outflows Hit Record High as Bearish Signals Put $88.91 Support at Risk

Solana (SOL) is struggling to hold above $92 as selling pressure builds, with $88.91 emerging as a key support level. The decline follows record outflows from US spot Solana exchange-traded funds (ETFs) and increased deposits of SOL to exchanges, adding to concerns about further losses. SOL was trading at $92.11, down 2.3% over the past 24 hours. Its price remains below the 20-period and 50-period moving averages, while the 200-period average at $88.91 is the next major level bulls need to defend.