Solana price hovered above $130 on Monday, December 15, staying close to a key resistance level near the upper band. This range has been sustained in the market over a number of sessions, and consolidation is seen just over the $130 support area.
Technical SOL signals an increasing bullish momentum with a potential breakout targeting beyond the $150 level. The interest of institutions is high, and Solana ETFs based on spots are still recording several days of continuous inflows of capital.
These inflows are indicative of a constant demand by the big investors, which seemingly justifies the present price stability of Solana.
Bitcoin price traded below $90,000, and Ethereum is hovering above $3,100 in the crypto market. XRP, ADA, and DOGE are still on a sideways trend.
Solana ETF Sees 33 Days of Consecutive Inflows, Hitting $608.9M
The spot Solana ETF by Bitwise Investment has posted 33 straight days of net inflows since its launch. The total capital inflows into the fund have now reached 608.9 million as per the data.
Such a trend is indicative of high and sustained institutional demand to Solana exposure via regulated investment vehicles.
According to SoSoValue data, Solana spot ETFs have continued to record consistent demand since its inception, recording a weekly net inflow.
The amount of assets under management was close to $928 million as of Monday. Bitcoin spot ETFs were able to attract $287 million in net inflows from Dec 8th. ETH spot ETFs gained $209 million in a week. Solana spot ETFs recorded a 33.6 million gain, and none of the seven funds recorded net outflows.
Solana Price Prediction: $150 in Sight If This Resistance Breaks
As of the reporting time, the SOL price is consolidating near the $132 zone, showing signs of renewed bullish interest.
The 4-hour chart shows a clearly defined horizontal line, with the support being the strong one at 130 and the resistance being the immediate one at $140. Solana has been trading within a range of $130 to $140 in more than two weeks.
Should bulls reclaim $140, the next logical target sits at $150, offering an upside potential of roughly 13% as the future Solana outlook remains bullish.
The display of the MACD shows that the lines of the signal and MACD are nearly touching the histogram indicators that are moving towards zero. This is an indication of a change of momentum.
In the meantime, the Relative Strength Index (RSI) stands at about 47.90, just below the 50 average mark, which suggests that the index could still rise.
Source: SOL/USD 4-hour chart: TradingviewUntil then, support at $130 is critical. A sustained drop below this zone could invalidate the bullish outlook, exposing downside risk toward $122.
Source: https://coingape.com/markets/bitwise-sol-etf-records-33-days-of-nonstop-inflows-is-a-recovery-to-150-possible/
