- The Solana price shows a short-term consolidation trend within $92 and $76.
- U.S.-listed spot Solana ETFs recorded uninterrupted net inflows since early–mid February.
- The daily relative strength index at 46% suggests neutral to bearish market sentiment.
SOL, the seventh largest cryptocurrency by market capitalization, rose roughly 11.5% during Wednesday’s U.S, market hours to trade at $89. The buying pressure initially triggered due to optimism surrounding President Trump’s State of the Union address, which highlighted economic “turnaround” themes. The coin price surged higher due to cascading liquidation and strong ETF inflow. Will SOL reclaim $100 again?
Solana Price Crashes While Institutional Money Quietly Accumulates
In the last seven weeks, the Solana price witnessed a severe correction from $148.4 to current trading value of $88, registering a loss of 40%. Similarly, SOL’s market capitalization plunged to $50 billion.
Amid this pressure from the downside, however, U.S.-listed spot Solana exchange-traded funds have seen a consistent net inflow. Data trackers show that no outflow days existed in these products since early to mid-February, with streaks of positive flows lasting for some 16 consecutive trading sessions in some products.
Cumulative flows into Solana ETFs have reached or surpassed $900m since launch, while more generalized crypto ETF categories saw (especially for Bitcoin and Ethereum) aggregate outflows in excess of $1.4bn over roughly equivalent time frames.
Specific day to day activity in February saw flows including around $3-8 million on a number of sessions with notable amounts around $3.78 million on February 24 and higher amounts such as $7-8 million on February 23 on certain tracking sources.
Earlier in the month, entries were from $1-$5 million on several days, and occasional spikes in near $9 million equivalents in prior patterns. Products such as the Bitwise Solana Staking ETF were commonly at the forefront of individual contributions.
This pattern has played out in a sea of price weakness, with SOL falling to the mid-$70s before partial recoveries. Institutional allocation by controlled vehicles have persisted even though the token has moved away from previous highs.
SOL Price Colling to Exit Three-Week Long Consolidation
Over the past three weeks, the Solana price resonated steadily in a narrow range between the $92 and $76. The consolidation followed a sharp correction trend from late January to early February, allowing sellers to recoup their bearish momentum.
However, a deeper analysis to SOL’s daily chart shows this lateral trend development into a triple bottom formation. This chart setup is characterized by three bullish reversals from a stationary horizontal support, indicating a high demand pressure from below.
A series of fresh higher lows in momentum indicator RSI accentuate the building bullish momentum in price for higher rally.
With today’s market jump, the Solana price rechallenges the pattern’s resistance level of $92 for potential breakout. If materialized, this breakout would intensify the market buying pressure and send the altcoin to an initial target of $100, followed by $117.5 resistance.
On the contrary, if the sellers continued to defend the $92 resistance, the Solana price would face another bearish reversal within this range and prolonged its sideways action.
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