Solana Don Drop Pass $160 As ETF Money And On-Chain Activity Dey Rise
Solana (SOL) drop 4% over night to $159.90 after e dey hold near $160 after e touch $167 early dis week. Futures open interest rise 15% to $8.8 billion, show say investors still dey interested. On-chain fundamentals strong still: transaction volume rise 27% to pass 596 million, active addresses increase 5% to 25.5 million, network fees grow 24% reach $7.3 million. For di last 18 hours, di BONK ecosystem plus di new Pump.fun (PUMP) token don generate over $1.2 billion volume, boost di network liquidity. Solana staking ETFs dey see big inflows: REX-Osprey SOL + Staking ETF don gather over $77 million since e start and e hold $73 million AUM now with daily flows of $10 million. Technical indicators dey give mixed signals: SOL dey trade inside one big symmetric triangle near im 50-day and 200-day EMAs, hourly MACD bearish, RSI neutral around 55, support levels de $158 and $155, resistance de $162 and $168. If e break above di triangle upper boundary or if US spot SOL ETFs get approval—Bloomberg talk say e get 90% chance by 2025—e fit bring back di bullish momentum go $200 plus long term targets of $500 to $1,000, but if e close daily below $155, e fit mean say more downside dey come.
Neutral
Even though Solana price don drop under the key $160 level because of bearish short-term technical signs like bearish hourly MACD and potential daily close below $155, strong ETF inflows, rising futures open interest, and solid on-chain metrics with expected US spot SOL ETF approvals dey give strong long-term bullish catalysts. The mixed signals from technical analysis against fundamental growth and ETF developments mean say short-term impact dey neutral, as traders need to watch the $160–$155 support zone and ETF approval news for directional clarity.