Solana Price Slumps 5% as 21Shares Launches First Regulated Crypto Index ETFs

The Solana price has slipped 5% in the last 24 hours, to trade at $157, on a 13% surge in the daily trading volume, to $5.93 billion.

The drop in Solana’s price comes as 21Shares launched two new crypto index ETFs — the 21Shares FTSE Crypto 10 Index ETF (TTOP) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC). These are the first crypto index ETFs approved under the Investment Company Act of 1940, giving investors a safer and more regulated way to access digital assets like Bitcoin, Ethereum, Solana, and Dogecoin.

Created with Teucrium, the funds don’t hold crypto directly but instead get exposure through publicly traded securities. TTOP tracks the 10 biggest cryptocurrencies and charges a 0.50% fee, while TXBC, which leaves out Bitcoin, focuses on blockchain projects with real-world use and charges 0.65%.

Unlike most crypto ETFs that follow the 1933 Act, these new ones follow stricter 1940 Act rules, offering more investor protection and better tax treatment. The launch comes as Bitcoin falls below $100,000, but interest in diversified crypto investments is rising — helping boost demand and price for Solana.

Solana Price Sellers Take Control Below $150

Solana (SOL) fell by 5.3% in the past 24 hours to trade around $145.27, as selling pressure continues to build. The price is now well below key support levels, showing that bears are still in control of the market.

The daily chart shows SOL trading under both the 50-day simple moving average (SMA) at $192.06 and the 200-day SMA at $180.34. This confirms a strong bearish trend, as the token has failed to stay above these levels. If this trend continues, Solana could face more downside in the coming days.

The Relative Strength Index (RSI) is at 32.46, close to the oversold zone of 30. This means the token may be nearing a point where a short-term rebound could happen. However, for now, the weakness shows that buyers are still hesitant to step in.

SOLUSDT Analysis Source: TradingView

The MACD indicator also confirms a bearish outlook. The MACD line is below the signal line, showing that momentum remains negative. This suggests sellers are still stronger than buyers.

If the current fall continues, the next support level is around $125. A break below this zone could push SOL toward $95 — its yearly low. On the upside, the first resistance sits near $160, followed by $180, which aligns with the 200-day moving average.

In summary, Solana remains in a bearish phase as technical indicators point to continued weakness. Bulls need to protect the $140–$145 area to avoid a deeper drop. A clear recovery above $160 would be the first sign of strength returning to the market.