Key Highlights
- Solana ETF products attracted $8.8 million in net inflows, marking the strongest day since May
- SOL traded down 1.16% at $74.88 on Tuesday following a week-long upward trend
- Critical resistance zones identified at $77, $90, and $100 with support holding at $74
- MoneyGram launched its Ramps cash-to-crypto service on Solana, serving customers in over 170 countries
- Crypto trader Bluntz identifies weekly bullish divergence pattern indicating possible price floor formation
Solana (SOL) experienced a 1.16% decline to $74.88 during Tuesday’s trading session, retracing some of the previous week’s momentum. The cryptocurrency market broadly weakened, with the total market capitalization sliding 0.6% to $2.17 trillion.
While the token’s price retreated, Solana-focused exchange-traded funds saw net capital inflows reach $8.8 million — marking the most substantial single-day intake since May 12, based on data from Santiment. This influx occurred with SOL hovering near $76.44, signaling a potential resurgence in institutional appetite despite prevailing market volatility.
The trajectory of ETF capital flows has been inconsistent, with several recent trading days registering modest outflows. However, this latest data point represents the most robust performance across the past three months, eclipsing all activity observed during June, July, and the first half of August.
MoneyGram Introduces Cash Conversion Services on Solana
MoneyGram revealed on August 11 that its Ramps platform has been extended to include Solana network compatibility. The infrastructure, which was initially exclusive to Stellar, now enables Solana-based wallets, trading platforms, and application developers to facilitate seamless cash-to-cryptocurrency and cryptocurrency-to-cash transactions.
Rift wallet became the inaugural Solana application to incorporate MoneyGram’s Ramps functionality. The global money transfer company reaches more than 60 million users through approximately 500,000 physical retail outlets spanning over 170 nations.
The Ramps platform facilitates cash deposit capabilities across 25+ countries while enabling withdrawal services throughout 170+ countries and territories worldwide. Application builders can integrate this functionality via the Solana Developer Platform’s payments infrastructure without establishing proprietary banking connections.
MoneyGram previously joined the Solana validator network in June, actively staking SOL tokens and participating in blockchain transaction validation.
Chart Analysis and Market Outlook
Examining the four-hour timeframe, SOL momentarily reached $77.40 before encountering selling pressure that drove prices back toward the $75 threshold. The MACD indicator currently registers at 0.19, positioned beneath the signal line at 0.46, with histogram values at -0.27, suggesting near-term bearish momentum.
The Relative Strength Index has fallen to 44.46, dipping below the neutral 50 mark, reflecting weakening buyer momentum. Maintaining support above $74 becomes crucial to prevent further downside toward $73 or $72 levels.
Cryptocurrency market analyst Bluntz (@Bluntz_Capital) highlighted on X platform that SOL demonstrates “strong price action” and identified a weekly bullish divergence pattern that could signal bottom formation. He characterized the present market phase as an accumulation zone.
A sustained breakout above $75 would represent the initial signal of returning buyer interest, with subsequent resistance targets positioned at $76 and $77. Should the token breach $90, this would establish a clearer trajectory toward the $100 psychological barrier.
SOL was last trading at $78.33.
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