Solana Price Holds Steady Amid Institutional Buying
Solana (SOL) has risen for the third day in a row. It is trading between $121 and $145. Steady inflows into Solana ETFs over the last four days show strong interest from institutions.
In the futures market, investor confidence is growing. The SOL futures market is expanding with more bullish bets.
Growth in Solana Derivatives and ETF Markets
Data from CoinGlass shows that Solana futures Open Interest (OI) is $7.26 billion. This is a 2.89% increase over 24 hours. Investors are raising their risk exposure, expecting Solana to recover further.
The OI-weighted funding rate is 0.0224%. Buyers pay a premium to hold long positions, showing their confidence. Also, short liquidations reached $9.64 million in 24 hours, higher than long liquidations of $5.20 million. This shows buy-side dominance in the market.
The long-to-short ratio rose sharply to 52.55%, up from 44.83% on Saturday. This matches the rise in futures OI and funding rate, signaling a bullish trend.
On the ETF front, Solana saw a net inflow of $16.54 million on Tuesday. This marks the fourth day in a row with inflows and the highest since December 2. It highlights renewed interest from institutional investors.
DeFiLlama reports that Solana’s Total Value Locked (TVL) rose nearly 2% in 24 hours, reaching $8.984 billion. Stablecoins on Solana also increased by almost 3% in the past week to $15.586 billion.
Solana’s Technical Outlook: Can It Break $145?
Solana trades near $140 after a 3% rise the day before. The $145 level from November 14 acts as resistance. The support sits at $126 from June’s low.
If Solana passes $145, it could reach the 50-day and 200-day EMA levels at $152 and $172.
Technical indicators show Solana is gaining strength. The Relative Strength Index (RSI) is 48, moving toward neutral, which means selling pressure is easing. The MACD also trends upward with green histogram bars, indicating bullish momentum.
Support levels to watch below are $126 and then April’s low at $95.
