Key Takeaways
- • Pando Solana ETF was scheduled to list on the Hong Kong Stock Exchange on October 13, 2026, becoming the city's second spot Solana ETF, according to Solana's announcement.
- • Spot Solana ETFs recorded $700,000 in net outflows on Monday, the sixth consecutive session of withdrawals, per CoinGlass data.
- • SOL traded at $106.54, just below its 50-day exponential moving average of $107.49, with RSI at 40 and MACD below zero, signaling soft momentum.
- • OSL tokenized and distributed the USDGO Plus SP market-neutral digital asset fund for eligible professional investors in Hong Kong, built on the $USDGO stablecoin with over $1 billion in circulation.
- • Key support sits at the 100-day EMA ($99.34), 200-day EMA ($97.18) and $96.19, while resistance is at the September 28 high of $124.89 and $149.36.
Summary
Solana recovered above $107 on Tuesday as buyers reclaimed a key moving average following Monday's pullback, according to Cryptonews.net. At the time of reporting, SOL was trading at $106.54, slightly below its 50-day exponential moving average of $107.49. The rebound coincided with new investment and tokenization developments in Hong Kong, although continued ETF withdrawals and subdued momentum temper the outlook.
Solana announced on Monday that the Pando Solana ETF was scheduled to list on the Hong Kong Stock Exchange on Tuesday, October 13. The product would be Hong Kong's second spot Solana ETF, expanding access to SOL through a traditional investment vehicle. Subsequent trading activity and fund flows will provide a clearer measure of investor demand.
Solana also highlighted the onchain tokenization of the USDGO Plus SP fund. According to the announcement, the product is a market-neutral digital asset fund built on USDGO, a stablecoin with more than $1 billion in circulation that the announcement describes as federally regulated in the United States. OSL tokenized and distributed the fund for eligible professional investors in Hong Kong. Availability is limited to eligible investors, and the announcement does not establish eventual adoption or any effect on SOL demand.
Despite these developments, spot Solana ETFs recorded $700,000 in net outflows Monday, according to CoinGlass. That was the sixth consecutive session of withdrawals, though the redemptions were smaller than those of the previous week, suggesting the pace of outflows had eased. Sustained inflows would improve the demand backdrop; for now, negative flows remain a constraint on the recovery.
Technically, the daily chart remains bearish, and SOL lost 4% of its value over the prior 24 hours. The move above the 50-day EMA restores an important support reference, but the narrow margin leaves it vulnerable to another test. The Relative Strength Index sits at 40, below its neutral midpoint, and MACD remains below zero, indicating the rebound has yet to establish strong bullish momentum. A rally could target the September 28 high of $124.89 and then $149.36. If the 50-day EMA fails, the 100-day EMA at $99.34, the 200-day EMA at $97.18 and horizontal support near $96.19 come into play, with deeper declines possibly targeting rising trendline support around $84.82 and $77.07.
Solana announced on Monday that the Pando Solana ETF was scheduled to list on the Hong Kong Stock Exchange on Tuesday, October 13. The product would be Hong Kong's second spot Solana ETF, expanding access to SOL through a traditional investment vehicle. Subsequent trading activity and fund flows will provide a clearer measure of investor demand.
Solana also highlighted the onchain tokenization of the USDGO Plus SP fund. According to the announcement, the product is a market-neutral digital asset fund built on USDGO, a stablecoin with more than $1 billion in circulation that the announcement describes as federally regulated in the United States. OSL tokenized and distributed the fund for eligible professional investors in Hong Kong. Availability is limited to eligible investors, and the announcement does not establish eventual adoption or any effect on SOL demand.
Despite these developments, spot Solana ETFs recorded $700,000 in net outflows Monday, according to CoinGlass. That was the sixth consecutive session of withdrawals, though the redemptions were smaller than those of the previous week, suggesting the pace of outflows had eased. Sustained inflows would improve the demand backdrop; for now, negative flows remain a constraint on the recovery.
Technically, the daily chart remains bearish, and SOL lost 4% of its value over the prior 24 hours. The move above the 50-day EMA restores an important support reference, but the narrow margin leaves it vulnerable to another test. The Relative Strength Index sits at 40, below its neutral midpoint, and MACD remains below zero, indicating the rebound has yet to establish strong bullish momentum. A rally could target the September 28 high of $124.89 and then $149.36. If the 50-day EMA fails, the 100-day EMA at $99.34, the 200-day EMA at $97.18 and horizontal support near $96.19 come into play, with deeper declines possibly targeting rising trendline support around $84.82 and $77.07.
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