ETF Inflows Drive Solana (SOL) Toward $90 Resistance
Solana (SOL) has stabilized after recent selling pressure, rebounding from support around $75–$76 and reclaiming the $80 area. U.S. spot Solana ETFs registered roughly $3.78 million net inflows on February 24, part of cumulative Solana-linked ETF inflows exceeding $900 million. Derivatives metrics improved: open interest rose, longs outnumbered shorts, and short liquidations during the rebound reduced near-term selling pressure. Technically, SOL sits above key short-term moving averages and the 50% Fibonacci retracement of its recent drop, with RSI moving above neutral. Immediate resistance is concentrated between $85–$88; a confirmed close above that range could open a move toward $90–$94. Support is near $79–$80, with downside risks back to $77–$74 if that level fails. Ongoing ecosystem concerns — including a past platform shutdown, a major hack, falling active addresses and TVL — continue to weigh on sentiment. The near-term outlook depends on whether continued institutional ETF flows and improving technicals can offset weak on-chain activity. Primary keywords: Solana, SOL price, Solana ETF, ETF inflows, crypto derivatives. Secondary/semantic keywords: resistance levels, support, RSI, open interest, on-chain activity.
Bullish
The article points to fresh institutional demand via spot Solana ETFs (net inflows on Feb 24 and cumulative flows >$900M) and improving derivatives metrics (rising open interest, more longs, short liquidations). These factors typically support price recovery and reduce immediate selling pressure, creating a bullish short-term setup if SOL holds key support near $79–$80 and breaks resistance at $85–$88. Technical signs — price above short-term averages, 50% Fibonacci level, and RSI above neutral — align with a possible move toward $90–$94. However, the bullish case is conditional: on-chain weakness (declining active addresses and TVL), past network incidents (shutdowns, hacks), and broader market shocks present medium-to-long-term risks that could cap gains or reverse the trend if ETF flows slow or sentiment deteriorates. Historical parallels: other altcoins have seen short-term rallies following ETF-driven inflows (e.g., early BTC/ETH ETF periods) that later moderated when on-chain fundamentals or macro conditions remained weak. For traders: short-term bias is bullish — consider long positions on hold above $79–$80 with targets at $85–$90 and stops under $77. For longer horizons, monitor ETF flow continuity and on-chain recovery before increasing exposure.