Key Takeaways
- • Solana fell 6.7% to $93.78, underperforming Bitcoin and Ethereum, as its futures market skewed heavily toward long positions at 3.38 longs per short.
- • Pluang analysis flags the $92.64 support level as critical; a break below it could trigger a cascade of forced liquidations, with the next support near $90.
- • U.S. Solana ETFs recorded $10.8 million in net outflows on October 30, the fifth consecutive day of withdrawals and $71.6 million over the five-day period from October 26 to October 30.
- • The broader crypto market capitalization fell 5.67% to $2.62 trillion on October 30, with Bitcoin down 3.31% to $77,433.
Summary
Solana's price dropped 6.7% to $93.78 on October 30, 2026, according to Pluang, lagging Bitcoin and Ethereum. The decline reflects a futures market positioned heavily to the upside, with 3.38 long positions for every short. Pluang warns that this imbalance raises the risk of forced liquidations that could push prices lower, particularly if the token breaks below its key support at $92.64. Despite aggressive buying, the market remains vulnerable, and the next support sits near $90.
Pluang's market data as of October 31, 2026 at 04:51 WIB shows Solana's market capitalization at Rp1,019.8 trillion, with a 24-hour trading volume of Rp97.46 trillion. The token traded at Rp1,730,774, down 2.59% over the previous day. Order activity was roughly balanced, with 48% sell and 52% buy orders. Pluang reports a typical holding period of 72 days on its platform, which it characterizes as moderate investor engagement despite recent declines.
Institutional flows point to similar caution. U.S. Solana exchange-traded funds saw $10.8 million in net outflows on October 30, extending a five-day withdrawal streak that totaled $71.6 million between October 26 and October 30. The weakness coincided with a broader sell-off in crypto markets. The total crypto market capitalization fell 5.67% to $2.62 trillion on October 30, led by declines in Bitcoin and several major tokens, including Ether, XRP, BNB, Solana, and Dogecoin.
For allocators, the key variables are whether Solana holds the $92.64 level and whether ETF flows reverse. Pluang's analysis is based on futures positioning and technical levels, and the sustainability of the move will depend on whether spot demand absorbs the leveraged long exposure.
Pluang's market data as of October 31, 2026 at 04:51 WIB shows Solana's market capitalization at Rp1,019.8 trillion, with a 24-hour trading volume of Rp97.46 trillion. The token traded at Rp1,730,774, down 2.59% over the previous day. Order activity was roughly balanced, with 48% sell and 52% buy orders. Pluang reports a typical holding period of 72 days on its platform, which it characterizes as moderate investor engagement despite recent declines.
Institutional flows point to similar caution. U.S. Solana exchange-traded funds saw $10.8 million in net outflows on October 30, extending a five-day withdrawal streak that totaled $71.6 million between October 26 and October 30. The weakness coincided with a broader sell-off in crypto markets. The total crypto market capitalization fell 5.67% to $2.62 trillion on October 30, led by declines in Bitcoin and several major tokens, including Ether, XRP, BNB, Solana, and Dogecoin.
For allocators, the key variables are whether Solana holds the $92.64 level and whether ETF flows reverse. Pluang's analysis is based on futures positioning and technical levels, and the sustainability of the move will depend on whether spot demand absorbs the leveraged long exposure.
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