Solana Price Gains Bullish Momentum as Futures Data Stays Strong, Bitwise ETF Inflows Hit $65M

The Solana price has slipped by a fraction of a percentage in the last 24 hours, to trade at $133, on a 12% surge in the daily trading volume, to $4.6 billion.

The surge in SOL price comes as Solana breaks out of a falling wedge pattern, signaling a strong bullish reversal. The price has already retested the former resistance line, confirming the breakout and supporting expectations of continued upward movement. If momentum holds, SOL could soon challenge the next major resistance at $156.

Futures data reinforces this bullish outlook. Open Interest remains healthy at over $7 billion, reflecting steady capital inflows into Solana derivatives. Turnover has also jumped sharply to $16.14 billion, while OI has stayed stable at around $7.16 billion in the past 24 hours, according to CoinGlass.

Institutional activity is adding even more confidence. Bitwise’s Solana ETF recorded a major $65.1 million inflow last week, highlighting growing interest from large financial players. This increased institutional backing strengthens Solana’s market position and supports expectations of further long-term growth.

Solana Approaches Key Breakout Zone as Bullish Reversal Structure Forms

The Solana (SOL) is attempting to stabilize after an extended decline, with price action now pressing against the upper boundary of a well-defined bearish channel. This channel has guided the downtrend since mid-2025, but recent candles indicate weakening bearish momentum as SOL forms a potential bullish reversal structure near a major historical support zone.

Price recently reacted strongly from the $120–$125 region, a level marked as a double-bottom support on the chart. This zone has historically served as a strong demand area, and the latest bounce reinforces its technical importance. The formation of consecutive higher lows within this region suggests a growing accumulation phase, signaling that sellers may be losing control.

SOLUSDT Chart Analysis Source: Tradingview

Notably, SOL is testing the breakout point of the descending channel. A confirmed close above this trendline would mark a shift in market structure and could trigger a broader bullish reversal. The chart highlights this area as a “bullish reversal” zone, indicating that analysts expect momentum to strengthen if the breakout holds.

Despite this improving structure, SOL is still trading below the 50-day SMA at $184.56 and the 200-day SMA at $169.76. These moving averages remain major upside barriers. The 200-day SMA in particular is a key trend indicator; reclaiming it would likely attract stronger buyer participation and validate the transition from a corrective phase to a bullish cycle.

Immediate resistance sits around $155–$160, where previous price reactions and structural highs align. A successful move above this level could pave the way for the $185 region, aligning with both historical resistance and the 50-day SMA. Beyond that, a long-term target near $200 would become viable.

The RSI on the 3-day timeframe sits around 35, showing oversold conditions while gradually ticking higher. This indicates that downward pressure is easing and that prices could push upward if market sentiment improves.