Solana’s 7-Day ETF Inflow Streak Fuels $160 Rebound: Can Bulls Sustain the Momentum?
The cryptocurrency Solana (SOL) is exhibiting indicators of a staged restoration, having rebounded above the $160 mark after dipping to round $150.
The catalyst seems to be a sustained streak of exchange-traded fund (ETF) influx, the sort of institutional sign that always galvanises momentum. But whereas the demand story is encouraging, underlying technical and macro challenges imply bulls should have a struggle on their arms.
ETF Inflows Signal Growing Institutional Appetite
Over the previous week, U.S. spot Solana-linked ETFs logged seven consecutive days of optimistic web inflows, accumulating a complete of roughly $294 million. On Tuesday, for instance, inflows totaled roughly $9.70 million, with main contributions from the BSOL fund ($7.46 million) and GSOL ($2.24 million).
This influx streak stands in stark distinction to the red-ink efficiency of Bitcoin and Ethereum ETFs, which collectively suffered substantial outflows in the identical interval. The divergence means that some institutional capital is rotating towards altcoins like Solana seeking higher-growth alternatives.
The optimistic ETF flows lend exterior legitimacy and recent demand, offering SOL with a firmer base to try a rally past the $160 zone.
Solana (SOL)’s Technical Picture & Macro Headwinds
Despite the regular inflows, Solana’s technical setup stays uneven. The token remains to be buying and selling under key transferring averages, together with the 9-day easy transferring common ($175.85), which hints that the bearish management just isn’t but totally relinquished.
Immediate assist lies round $158, with a extra substantial ground close to $150, a degree that latest consumers defended. On the upside, reclaiming $175 (+) can be a significant shift, probably exposing a transfer towards $180.
However, macro-economic and on-chain headwinds elevate warning flags. The U.S. authorities shutdown, now extending for dozens of days, has induced market uncertainty and depressed the Fear & Greed Index to excessive worry territory (24).
Meanwhile, Solana’s network metrics inform a combined story. Stablecoin liquidity on the chain has shrunk, signaling doable limits to on-chain demand. Although ETF flows are supportive, momentum stays fragile till broader sentiment and community fundamentals stabilise.
Momentum Hinges on Key Levels
If bulls can defend the $155-$160 assist zone and proceed to harness ETF inflows, Solana could press towards the $172-$177 resistance zone and presumably check $180. However, failure to carry assist round $150 may set off a deeper correction, with draw back threat towards $132 or decrease.
In brief, the influx streak is a significant bullish enter, but it surely’s not but adequate alone to ensure a sustained breakout. Traders and buyers will wish to watch whether or not the demand story interprets right into a stronger worth construction and whether or not macro dangers abate.
Cover picture from ChatGPT, SOLUSD chart from Tradingview