Solana (SOL) has recorded strong investor interest, with digital asset products seeing $9.1 million in net inflows last week. This marks the sixth consecutive week of positive inflows, bringing year-to-date totals to $181 million.
Market activity shows a growing accumulation pattern, as buyers steadily absorb selling pressure below critical resistance levels. SOL’s price action indicates that the token is building a solid foundation for a potential breakout in the near term.
Price Structure Suggests Buyer Accumulation
Analyst gnarleyquinn notes that Solana has spent weeks forming higher lows under $92. Every rejection at this level gradually removes sellers from the market. This week, SOL closed above $90, reinforcing bullish momentum. Price continues to respect a rising trendline, forming a tightening ascending structure.
Each pullback establishes a higher low, suggesting consistent buyer interest. Key support now sits between $88 and $90, with trendline support near $85. Resistance remains near $92, but a sustained break could trigger a rapid move toward $96–$100.
Additionally, BitGuru highlights that SOL has reclaimed a key market structure after a clean breakout above $90–$92. Holding above $92 maintains bullish pressure, keeping buyers in control.
Source: X
Immediate resistance sits around $94–$95, where recent highs could act as a barrier. Clearing this level with strong volume may accelerate the move, given limited overhead supply. Conversely, a fall below $92 risks a pullback toward the previous range mid-level near $88–$90.
Moving Average Resistance and Trend Risks
Despite short-term bullish signals, CryptoPulse warns that the 100-day moving average remains a significant hurdle. After losing support near $109, every retest has faced rejection, confirming a bearish imbalance zone between $105 and $110.
Price consolidation below $92–$95 indicates that bears still have influence. Short-term support lies near $78–$82. As long as SOL trades below the 100-day moving average, downward momentum could continue. A daily close above $109 would be the first clear indication of a potential trend reversal.
SOL has surged to $94.59, posting a 7.36% gain in 24 hours and an 11.06% rise over the past week. Trading volume reached $6.64 billion, reflecting heightened market engagement. With a circulating supply of 570 million tokens, Solana’s market capitalization stands at $54.04 billion.
Source: https://coinpaper.com/15479/solana-sees-9-1-m-inflows-sol-eyes-96-100-breakout
