Crypto News Today: Solana ETF Inflows Hit $323M as Institutions Load Up: What's Next for SOL Price?

Solana ETF inflows hit $323M as institutional interest grows. Solana’s price stabilizes near $150, eyeing potential breakout toward $200.

Solana (SOL) is seeing strong interest from institutional investors, with ETF inflows surpassing $323 million in the last week. This surge in institutional buying has renewed confidence in Solana’s price potential

Despite a few weeks of sideways trading, many believe that Solana could be on the verge of a breakout. Investors are now closely monitoring key levels for signs of a potential price move toward $200.

Institutional Interest Boosts Solana’s Market Confidence

Solana’s blockchain ecosystem is starting to gain broader recognition, which many experts believe is a result of its long-term potential.

In addition to the $29 million invested in the Bitwise Invest Solana ETF (BSOL), the total ETF inflows have reached $323 million over the last week. This surge indicates a growing interest from large financial institutions, which have been increasingly confident in Solana’s prospects

As more institutional money flows into the asset, it creates a solid foundation for the price to move upward.

Solana price stability during the past few weeks has allowed these institutions to build positions without significant price volatility. This has contributed to the anticipation of further upward movement, with $170 being a key level to watch.

If the price breaks above this mark, analysts predict it could move towards $185, and potentially test the $200 range.

Solana’s Price Range and Key Levels to Watch

Solana’s price has been fluctuating between $150 and $160 for several weeks. The $150 mark has acted as a strong support level, preventing the price from dropping further

Bulls have successfully defended this price point, which could indicate a potential rebound. However, the next key level to watch is around $170, which could determine whether Solana’s bullish trend continues.

If the price breaks above $170, it may move toward the next resistance level near $180 or $185. A sustained rally above $170 could suggest that the market is preparing for a move toward $200. On the downside, a drop below $150 would signal a potential correction, with $140 and $130 as possible next support levels.

Technical Indicators Suggest Potential for a Short-Term Reversal

Solana’s technical indicators are showing signs of a possible short-term reversal

The MACD line is approaching a crossover with the signal line, indicating a potential shift in market momentum. This could suggest that the price may begin to rise if the bullish momentum strengthens. However, this trend is still fragile, and further confirmation is needed.

Solana price consolidates near $157, with key support at $150. Source- TradingViewThe RSI is currently around 37, which is close to oversold levels. This means there may be room for an upward move if buying pressure continues to build

However, if the price fails to break above key resistance levels, the trend could remain flat or turn bearish. Traders will be looking for confirmation from technical indicators before making any significant moves.

While the market remains cautious, the technical setup suggests that Solana could be preparing for a price reversal. If the MACD and RSI signals align with higher buying pressure, a breakout could be likely

However, until these indicators are confirmed, the market will remain uncertain. Investors should watch the upcoming price action for more clues.