Solana Coils Near Breakout as Price Compresses Toward $100 Zone

• Ali Martinez says SOL is coiling as Bollinger Bands tighten on the three-day chart.
• SOL trades at $86.42, up 1.1% daily but down 2.4% weekly and 3.2% monthly.
• ETF inflows exceed $1B, but recent flows are mixed, signaling cautious positioning.

Crypto analyst Ali Martinez says Solana is nearing a major price move as volatility compresses. Solana is trading at $86.42, with mixed performance across timeframes. Market data shows a tight range that could determine whether the token approaches $100. 

Martinez: Solana Price “Coiled” for a Move

Martinez highlighted that Solana is stuck in a tight range on the three-day chart, with Bollinger Bands squeezing, a sign that a major move may be coming. He compares it to a compressed spring, where prolonged sideways movement can lead to stronger breakouts once the price moves.

Notably, Solana has been trading between $77 and $94, which he calls a “no-trade zone” due to choppy action. Traders are waiting for a clear breakout above or below this range.

The market appears to be stabilizing after earlier losses. Solana is still about 70% below its $293 all-time high from January 2025. 

Source: Twitter

Price Performance Shows Mixed Momentum

Solana is currently trading at $86.42. The token has gained 1.1% over the past 24 hours. However, it remains down 2.4% over the past week and 3.2% over the past month.

This uneven performance matches the ongoing consolidation phase highlighted by Ali Martinez, with neither buyers nor sellers in clear control. The tight price movement points to lower volatility, which often comes before a breakout or sharper move.

ETF Data Signals Strong Base, Slower Activity

Institutional data adds further context to Solana’s setup. Figures from SoSoValue show cumulative inflows into Solana ETFs exceeding $1.02 billion. This indicates sustained interest from large investors.

However, short-term flows remain uneven. Daily net flow stood at negative $1.17 million as of April 24. Recent sessions show alternating inflows and outflows, with periods of inactivity. A large share of the product’s net inflows is concentrated in BSOL ($825 million), with additional contributions from FSOL ($158 million) and GSOL ($104 million).

At the same time, some products have recorded outflows. TSOL shows cumulative outflows of about $102.6 million, indicating that not all institutional participants are increasing exposure.

Key Levels Define Next Move

Market participants are watching the current range for a breakout signal. Analysts identify $94 as the key resistance level. A confirmed move above this level could indicate renewed demand and open the path toward $100.

On the downside, $77 remains critical support. A break below this level may signal continued weakness and extend the broader downtrend.

With price still moving in a tight range, the next move could be sharp. The direction will likely depend on whether new buyers enter the market or sellers take control.

Related: Solana Price Prediction: Analysts Flag $87 As Breakout Level As RWA Assets Hit $2B