Solana $130 Bottom and On-Chain Data Signal SOL Rebound
Solana (SOL) appears to have established a bottom near $130, with on-chain metrics and technical indicators pointing to a potential rebound. Since dropping from $173, SOL staged a V-shaped reversal from the $130 level, while the RSI rose from the mid-20s into the 50s, confirming growing bullish momentum. Futures open interest climbed 5% to $7.3 billion and funding rates turned positive, signaling renewed demand. Spot cumulative volume delta and net taker volume have also moved positive. US-based Solana ETFs registered $390 million in inflows over 15 days—including $8.26 million on Monday—lifting assets above $513 million. Network activity strengthened as daily active addresses rose 18% and transaction volume increased 9.1% over 30 days. If SOL holds above the $160 EMA and breaks resistance near $170, traders could target $180–200 next, with a mid-term upside toward $250. These developments reinforce confidence in a sustained SOL rally, making current levels a potential entry point for traders.
Bullish
The combined on-chain and technical data—bottom formation at $130, a V-shaped price reversal, rising RSI, increased futures open interest and positive funding rates—signal renewed bullish momentum for SOL. Significant ETF inflows and growing network activity further underpin demand. Key resistance levels at $160 EMA and $170, once cleared, could trigger short-term gains toward $180–200 and a mid-term rally to $250. These converging indicators support a bullish outlook in both the short and long term.