Solana (SOL) Price: ETF Inflows Reach $638 Million as Token Breaks Downtrend

TLDR

• Solana price broke above a falling wedge pattern and is targeting $150 with current support at $130
• Bitwise Solana ETF recorded $65.1 million in inflows last week, showing strong institutional interest
• Spot Solana ETFs attracted $19.2 million in weekly inflows, bringing cumulative inflows to $638 million
• Trading volume increased 66% to $4.91 billion as SOL gained 4-5% in recent sessions
• Analysts identify $136 as critical resistance level, with $124 as key support that must hold

Solana price has shown recovery over the past 24 hours as the broader crypto market rebounds. SOL is currently trading around $136 after gaining approximately 5% in recent sessions.

The token broke out of a falling wedge pattern, which traders view as a bullish technical signal. This breakout was followed by a successful retest of the previous resistance line. Trading volume increased by 66% to reach $4.91 billion.

Bitcoin’s move above $91,000 helped lift sentiment across the altcoin market. Solana maintained support above the $130 level during this period.

Strong ETF Inflows Signal Growing Demand

Bitwise’s Solana ETF recorded inflows of $65.1 million last week. This marked one of the largest weekly inflows for any Solana investment product. The BSOL product from Bitwise Investment added $55.1 million alone.

Spot Solana ETFs collectively attracted $19.2 million in weekly inflows. Total cumulative inflows across all spot Solana ETFs now stand at $638 million. This institutional activity reflects growing confidence in the asset.

Futures Open Interest for Solana remains above $7 billion according to CoinGlass data. Futures trading volume jumped 47.86% to $16.14 billion. These metrics show sustained activity in SOL derivatives markets.

Key Price Levels to Watch

Analyst Ali Martinez identified $136 as a critical resistance level. A clean break above this price could push SOL toward $140 in the near term. The next major resistance sits at $156 based on recent chart patterns.

Support levels matter equally for the current setup. Martinez noted that Solana must hold $124 to maintain its recovery structure. A failure below $124 could expose the price to further downside toward $115 or $106.

Analyst BitGuru observed that buyers continue defending the $130 to $132 area. This zone has provided multiple bounces during recent pullbacks. Strength above this range supports a potential move toward the $145 to $149 band.

Technical Indicators Show Bullish Momentum

The MACD indicator shows an upward shift in momentum. This suggests the possibility of continued upward movement in the short term. The Chaikin Money Flow indicator stands at 0.11, indicating positive money flow into the asset.

Price action shows SOL attempting a clean pullback after breaking its short-term downtrend. A push above $138 would add weight to a broader recovery scenario.

Solana’s market cap now sits near $76 billion with 24-hour trading volume above $5.6 billion. The token posted a 3% daily gain and a 7-day advance during the recent recovery period.

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