Solana (SOL) price trades above $75 at the time of writing on Monday after declining 2.18% last week and finding support at an ascending trendline. Continued inflows into spot SOL Exchange Traded Funds (ETFs) suggest sustained investor demand. Meanwhile, the technical outlook remains constructive, with a decisive break above the key $78 mark indicating further gains.
Institutional demand strengthens
Institutional demand for Solana has remained robust. SoSoValue data showed that SOL ETFs recorded an inflow of $10.26 million last week, the highest weekly inflow since May 22 and marking the seventh straight week of positive inflows. If these inflows continue and intensify throughout the week, SOL could extend gains.
CryptoQuant’s summary data also shows a mild bullish tilt. SOL’s spot markets show large whale orders and futures markets show cooling conditions, while other metrics remain neutral, supporting a potential recovery.
Solana Price Forecast: Finds support at the ascending trendline
Solana price trades at $75.53 on Monday, holding marginally above the 50-day Exponential Moving Average (EMA) at $75.48, but remains capped beneath the 100-day EMA at $78.10 and the much higher 200-day EMA at $88.69, keeping the broader tone constrained despite a short-term bounce.
Momentum is mildly constructive, with the Relative Strength Index (RSI) near a neutral 52 and the Moving Average Convergence Divergence (MACD) holding in positive territory, which hints at stabilizing demand. At the same time, the larger trend structure still argues against a clean bullish breakout.
On the topside, initial resistance is seen at the recent horizontal barrier near $77.07, followed by the 100-day EMA at $78.10; a sustained move above these levels would be needed to ease the current cap and open the way toward the 200-day EMA at $88.69 and the higher resistance zone around $96.19.
On the downside, immediate support is the 50-day EMA at $75.49, with the rising trendline break area near $73.64 as the next line of defense; a daily close below this level would expose a deeper corrective phase within the prevailing range-bound structure.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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