Solana (SOL) is showing renewed bullish momentum after breaking its long-term downtrend, while sustained ETF inflows signal growing institutional interest. A successful retest of former resistance could strengthen the bullish structure and support further upside as market confidence improves.
At the time of writing, SOL is trading at $97.95 with a 24-hour trading volume of $3.1 billion and a market capitalization of $57.32 billion. Despite the 4.5% loss over the last 24 hours, the SOL price structure and ETF growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: Solana Price Eyes $400 After Falling-Wedge Breakout and ETF Surge
SOL Price Eyes $250 After Major Trend Reversal
According to the crypto analyst Wealthmanager, SOL is trading near $100 after breaking its long-term macro downtrend and confirming a notable shift in market structure.
The breakout suggests buyers are regaining control following an extended bearish phase. However, SOL could still experience a pullback as traders take profits and the price retests the former resistance zone before attempting another sustained move higher.
Source: Wealthmanager’s X Post
If the former resistance turns into an area of support, then it can lay the groundwork for the next upward movement for SOL.
This will build upon the recently formed market structure and add new strength to buying pressure. Since the momentum is still favorable, $250 is eyed as a long-term target for SOL.
Solana ETFs Hit 11-Day Inflow Run With $10.9M
The data from Solana Floor further highlighted that the US-listed Solana ETFs have managed to increase the number of consecutive winning days to 11 and also managed to make an additional $10.9 million worth of net inflows in the last trading day.
This shows that investors’ demand for a regulated exposure to Solana is still very strong even amid market volatility.
Source: Solana Floor’s X Post
A long-term inflow pattern would help to bolster the case for institutional adoption since ETFs give traditional investors a more straightforward means of accessing the cryptocurrency without necessarily having to handle crypto investments.
Although ETF inflows do not imply that a price rally is imminent, positive inflows would certainly create a favorable market environment for SOL.
Despite the bullish price predictions and ETF growth, the SOL price is still moving in a downward direction. This move is also backed by the cautious environment in the crypto market as Bitcoin has started to move sideways.
What Happens Next for Solana?
The next step in the SOL price movement will be contingent upon whether the SOL can successfully test its former resistance area as support in light of its sustained breakdown from a long-term downtrend.
Successful testing would lead to further accumulation of bullish power, which may take SOL towards $250, while failure may lead to further consolidation.
Also Read: ARK Glassnode Report Compares Bitcoin, Ethereum, and Solana on Decentralization
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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