Solana price has maintained support amid increased volatility post-ETF approval due to strong resilience at the $145 level. This creates the potential for a bottom to form.
summary
- Main support: The price remained at the $145 level for over a week, indicating strong demand from buyers.
- ETF momentum: It recorded an inflow of $9.7 million for seven consecutive days.
- Bullish outlook: If demand for the ETF persists and support stabilizes, it could trigger a rebound towards $200.
Solana (SOL) price activity has been hovering around $145 for over a week, with this level acting as a support zone on the higher time frame. This area coincides with previous capitulation lows and is now an area of high demand.
Continuing to maintain this level indicates growing confidence among buyers, especially after the recent approval of the Solana ETF, which has seen strong investor inflows.
Key technical points of Solana price:
- Critical support: The $145 level acts as high time frame support and has been defended repeatedly since the recent decline.
- Volume and inflow: ETF inflows hit $9.7 million, marking the seventh consecutive day of demand.
- Possibility of bottom price: Multiple retests at support and rising ETF rates suggest a bottoming structure is forming.
From a technical perspective, Solana’s price structure exhibits accumulation characteristics. The capitulation event that pushed the price towards the $145 area was followed by multiple downside rejections, each time followed by a strong buyback wick. This behavior usually indicates the presence of demand absorption and indicates that sellers may be exhausted.
The 0.618 Fibonacci retracement is closely aligned with current support and adds a technical confluence that strengthens this zone as a possible reversal pivot. Additionally, several candlesticks have closed above this area, reinforcing the possibility that buyers are gradually regaining control.
Near-term resistance remains at $180-$200, where the high of the value area intersects with the 50-day moving average. A decisive retrieval of this range, supported by sustained volume, could trigger a momentum-based rally aimed at higher resistance around $220.
Solana’s ETF approval adds fundamental strength to the bullish outlook. According to the data, the Solana ETF has recently attracted net inflows of more than $9.7 million, marking seven consecutive days of investor participation. This continued inflow strengthens institutional investor interest and increases the credibility of the current price defense.
The consistency of these inflows highlights investors’ growing confidence in Solana’s long-term viability as a blockchain ecosystem. If these inflows are sustained in tandem with improvements in the technical structure, Solana could establish itself as one of the leading assets in the next bullish cycle.
What to expect from future price trends
If Solana holds support at $145 and continues to attract ETF inflows, a short-term reversal rally towards $180-$200 could develop. However, a loss of this support will invalidate the bullish scenario and $120 will emerge as the next major downside target.