Solana News Today: Solana Challenges $130 Support Level: Will ETF Inflows Offset Negative Market Trends?
- Solana (SOL) tests $130 support as price falls below $140, with technical indicators signaling bearish consolidation below key moving averages and resistance at $136. - Institutional adoption accelerates via VanEck's U.S. spot Solana ETF, managed by SOL Strategies through its Orangefin validator node, joining Bitwise and Grayscale in attracting $382M inflows. - Price remains range-bound near $155 amid mixed signals: ETF inflows provide partial support, but RSI/MACD remain bearish, with $162 breakout pote
Solana (SOL) has experienced a significant drop in value, recently falling below $140 and approaching crucial support near $130. This has led to discussions among market experts about whether the asset is nearing a bottom. Technical signals
At the same time, institutional interest in
Despite these advancements, Solana’s price continues to trade within a narrow range near $155, with technical indicators providing mixed signals. While ETF inflows have offered some support, both the RSI and MACD remain negative, and the token is consolidating between $150 and $162
The short-term direction of Solana will likely depend on the balance between technical factors and institutional participation. If the $130 support holds, it could encourage renewed buying, while a successful ETF launch may draw additional capital. However, unless the price breaks out of its current consolidation, the outlook remains unclear.
Traders are monitoring the technical setup for any indications of a trend reversal or continuation. Losing key support levels could lead to further sell-offs, especially if the broader crypto market weakens. Conversely, a strong defense of the $130 or $140 support could attract stop-loss buyers and help stabilize the price in the near term. These factors contribute to Solana’s high volatility, offering both risks and opportunities for active traders.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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