Solana Worth Prediction: Goldman Sachs sells SOL ETF as funding charges flip unfavorable

• Goldman Sachs absolutely liquidates $108 million Solana ETF place in Q1 2026 whereas holding $700 million Bitcoin ETF
• SOL’s funding fee fell from +8% to -3% in three days, the sharpest bearish shift because the February lows.
• Solana DEX buying and selling quantity fell 56% to $11 billion from a mean weekly common of $25 billion in January as Hyperliquid and Base took market share

Solana was buying and selling at $84.86 on Could 20, pushing up the channel uptrend line for the second consecutive day as Goldman Sachs revealed it liquidated all of its SOL ETF positions within the first quarter and futures funding charges turned unfavorable for the primary time since February.

SOL Each day Chart: Sustaining Channel Trendline Under Liquidity Zone

SOL is on the decrease finish of an upward channel from February lows of $67. Under that, if the channel breaks on the each day shut, the liquidity sweep zone between $76 and $78 marked by the LuxAlgo indicator can be focused.

All 4 EMAs are above the value. The 20 EMA at $87.84 and the 50 EMA at $87.66 are the speedy tops, adopted by the 100 EMA at $92.95 and the 200 EMA at $109.58. Since Could sixteenth, worth has by no means closed above the 20 EMA. The pink liquidity zone round $96 to $98 marks the place the place worth was rejected on Could eleventh and stays at a stage that requires liquidation earlier than making an attempt a restoration.

Could twenty first SOL Main Ranges:

• Resistance: $87.84 (20 EMA), $87.66 (50 EMA), $92.95 (100 EMA), $96 to $98 Rejection Zone
• Help: Channel trendline close to $84, liquidity sweep zone from $76 to $78
• 200EMA: $109.58

Solana DEX quantity decreased by 56%: Is community exercise the actual downside?

The SOL perpetual futures funding fee fell from +8% on Saturday to -3% on Tuesday. Below regular circumstances, the funding fee is round +9%. At -3%, brief sellers are paying lengthy to carry, reflecting pure demand for bearish positioning reasonably than technical strain.

Solana DEX buying and selling quantity has fallen from $25 billion per week in January to $11 billion now, a 56% decline. DApp income fell from $35 million to $20 million per week throughout the identical interval. Pump, Axiom Professional, Phantom, and Jupiter account for 65% of complete income on the community. Hyperliquid makes use of a high-throughput mannequin constructed into its consensus layer to attain perpetual quantity. Base is partaking customers of the Coinbase ecosystem. Solana’s TVL ranks second at $5.9 billion, however its income is on the decline.

The evaluation flagged 1,600 addresses accountable for almost 63% of the quantity on PreStocks, an artificial property platform on Solana. Whereas this exercise is in step with arbitrage bots, it might additionally point out quantity inflation, elevating uncertainty about how effectively Solana’s on-chain numbers mirror precise consumer demand.

Goldman Sachs withdraws from Solana ETF: What 13F filings actually present

Goldman’s Q1 2026 13F confirmed that the financial institution bought its total Solana ETF place, beforehand valued at roughly $108 million, throughout a number of issuers. It additionally eradicated $154 million of XRP ETF publicity and decreased its Ethereum ETF holdings by 70% to $114 million. The Bitcoin ETF was held at round $700 million, down simply 10%.

Goldman treats Bitcoin as the one digital forex with constant institutional worth traits, rotating its altcoin ETF publicity to shares equivalent to Coinbase, Circle and Robinhood. For Solana, an exit is in sight as DEX volumes have declined, competitors has elevated, and funding charges have simply turned unfavorable.

Solana Worth Prediction for Could twenty first: Key Ranges and What Modifications the Commerce

• Upside: Holding the channel trendline at $84 and regaining the each day shut of $87.84 adjustments short-term momentum. BTC recovering above $79,000 is the macro set off SOL wants. With out it, any rebound to the EMA can be bought off.
• Draw back: Shedding the channel trendline straight impacts the $76-$78 liquidity zone. Destructive funding, Goldman exit, and declining DEX revenues are all trending in the identical path, and none of them will reverse anytime quickly with no macro catalyst.