Solana (SOL) experienced a 4.5% decline, dropping to $88.2 after failing to maintain the $90 support level. The altcoin's price action is under pressure from a bearish flag pattern, with analysts predicting a potential drop to between $40 and $45 if the pattern fully develops. This bearish sentiment is compounded by significant outflows in the derivatives market. Data from CoinGlass indicates that futures outflows reached $2.13 billion, while inflows decreased to $2.02 billion, resulting in a negative net flow of -$103 million. Open interest also fell by 2% to $5 billion, with $6 million in long positions liquidated. Despite these challenges, Solana spot ETFs have managed to avoid net outflows, recording $4.5 million in net inflows, which could provide some support against further declines.