Solana Extends Advance as ETF Inflows and On-Chain Metrics Signal Bullish Momentum

Key Moments:

Institutional Interest in Solana ETFs Accelerates

Solana (SOL) is holding above $137 on Tuesday, extending a rally that has lifted the token more than 7% over the past week. The advance coincides with strengthening institutional interest, reflected in renewed demand for US-listed spot Solana exchange-traded funds (ETFs).

According to SoSoValue, spot Solana ETFs attracted $16.24 million in net inflows on Monday, the largest single-day increase since mid-December. These vehicles have seen institutional demand build steadily since their launch on October 28. So far this week, total net assets in Solana spot ETFs have surpassed $1 billion, underscoring growing participation from larger investors. If this pace of inflows persists or accelerates, it could provide additional support for a further price rally in SOL.

On-Chain Metrics Indicate Strengthening Bullish Bias

On-chain data is reinforcing the constructive picture for Solana. CryptoQuant’s summary points to a bullish backdrop across both spot and futures markets, highlighting the presence of large whale orders, cooling conditions, and buy-side dominance. Taken together, these factors suggest improving sentiment among market participants and hint at the possibility of the recent uptrend extending in the days ahead.

Additional support comes from stablecoin dynamics on the Solana network. DefiLlama data shows that the total stablecoin supply on Solana has been recovering since early January and now stands at $15.32 billion. The increase in stablecoin capitalization and activity on the Solana ecosystem is viewed as a constructive signal, as it reflects greater value transacting on the network and can help draw more users and liquidity.

Technical Outlook: Bulls Eye Resistance Near the 100-day EMA

From a technical perspective, Solana recently completed a key breakout. The price moved above the upper boundary of a falling wedge pattern – defined by connecting multiple highs and lows since early October – on December 26. Following that breakout, SOL rose more than 12% through Monday, finishing the session above the 50-day Exponential Moving Average (EMA) at $163.45. As of Tuesday, the token is trading above $137.

If the current upward trajectory persists, SOL could push toward the next notable resistance area at $150.61, which aligns with its 100-day EMA. Momentum indicators are currently aligned with this bullish scenario. On the daily chart, the Relative Strength Index (RSI) stands at 63, above the neutral 50 level, signaling strengthening upward momentum.

The Moving Average Convergence Divergence (MACD) indicator is also supportive, showing a bullish crossover and rising green histogram bars above the neutral line. These technical signals collectively reinforce the case for continued upside, provided buying interest remains robust.

Downside Levels to Watch

While the bias remains constructive, a pullback cannot be ruled out. If SOL reverses lower, the price could extend a correction toward support around the weekly level at $126.65. This area may be monitored by traders as a potential zone where buyers could attempt to reassert control.