- Base leads net inflows with $104M, while Solana holds key support amid market shifts affecting liquidity and sentiment.
- SOL’s price consolidation between $156.50-$169.10 signals a crucial support test, with potential downside if buyers don’t step in.
- Liquidity trends favor Base and Solana, while OP Mainnet and Avalanche see outflows, reflecting shifting investor confidence.
Satoshi Club reports that Base recorded the highest net inflows in the past seven days, totaling $104 million. Solana followed with $52 million, while Ethereum and Bitcoin saw inflows of $33 million and $30 million, respectively. Besides these leading gainers, Arbitrum, Polygon PoS, zkSync Era, and Kaia also experienced positive net flows.
However, not all networks gained liquidity. Avalanche C-Chain and OP Mainnet faced the most outflows, reflecting shifting capital trends. This movement impacts ecosystem development, investor sentiment, and asset valuations. Moreover, the ranking, based on the top 20 networks, highlights where liquidity is accumulating and depleting.
These capital shifts influence broader market conditions. Investors monitor net flows to assess where funds are concentrating. Hence, Base and Solana’s dominance suggests confidence in these ecosystems. Conversely, OP Mainnet and Avalanche C-Chain’s outflows indicate capital rotation. Additionally, traders should analyze liquidity trends to anticipate future price movements.
Solana Price Action: Key Support in Focus
SOL/USDT on Binance has shown volatility after a strong early 2024 rally. The price had a rising trendline that it eventually broke downwards. In recent times, the price had tested the trendline but did not regain it, indicating potential weakness.
There is a support level between $156.50 and $169.10, where the prices are consolidating. If this support level fails, SOL may decline further, testing a lower red zone. Besides, historical data suggests that this region has served as a reversal point.
Buyers stepping into SOL could form a double-bottom pattern potentially reversing the downtrend. This pattern, if confirmed, could push the price back toward the broken trendline. Moreover, the next major resistance sits near $263.43, marking a crucial target.
Furthermore, SOL’s longer-term direction remains uncertain. The failure in the uptrend serves as a warning against sustained bullish pressure. Furthermore, if SOL is unable to reclaim its trendline, more bearish pressure is anticipated.
