Solana nears $94 as ETF inflows persist: see the forecast

crypthub

1 day ago

Institutional Demand Fuels SOL Rally

SOL is trading above $89, up 3% in 24 hours, as institutional interest grows. Spot SOL ETFs saw $3.92 M inflows on Thursday, following $1.66 M the day before. Weekly ETF flows have topped $3 M for five straight weeks since mid‑February. Continued inflows could push the price toward the $95 resistance zone.

Derivatives Signal Bullish Sentiment

Funding rates turned positive at 0.0079%, meaning longs are paying shorts. The long‑to‑short ratio rose to 1.07, the highest in four weeks. Both metrics suggest traders expect further price gains. This aligns with the broader bullish narrative for SOL.

Technical Outlook and Price Targets

SOL holds strong support near $77 and has broken the $86 barrier. Momentum indicators are positive: RSI is above 61 and MACD stays in bullish territory. A break above the $94 trendline could open a path to $120, while a fall below $86 would retest the $77 level. The next move will clarify the near‑term bias.