According to data from CryptoComLearn, Solana-focused ETFs recorded $22.14 million in net inflows this week, reflecting sustained institutional interest. The capital influx has helped Solana’s price hold above the 50-day exponential moving average (EMA) support at approximately $87.42. Although trading below $90 on Friday, the previous session closed at $89.05, indicating that buyers are defending short-term support levels and the market is showing signs of stabilization.
Futures Market Heating Up
Meanwhile, Solana's futures open interest has climbed to $5.53 billion, signaling increased retail participation and heightened expectations of near-term price volatility. The rise in open interest typically suggests fresh capital entering the market, providing potential liquidity support. However, excessively high open interest may also amplify volatility, especially during directional breakouts.
Technical Indicators Point to Mild Bullishness
From a technical standpoint, Solana exhibits moderate bullish momentum. The MACD is above its signal line, and the Relative Strength Index (RSI) stands at 55, in a neutral-to-bullish zone. However, to confirm a broader recovery trend, Solana must first break above the 100-day EMA near $98. If that resistance is cleared, the next major hurdle lies at the 200-day EMA around $117.
Institutional and Retail Support
The combined support from institutional inflows and retail traders in the derivatives market is underpinning the current price structure. Nevertheless, significant overhead resistance remains, particularly from long-term moving averages. Investors should watch the short-term support band of $88–$90 and, crucially, whether Solana can breach the $98 key resistance level, which would be a vital signal for trend direction.