With strong resilience at the $145 level, Solana’s price is maintaining support amid heightened volatility following its ETF approval. This development opens the possibility of a bottom forming in the near term.
Solana’s (SOL) price action has been consolidating around the $145 mark for over a week, with this level acting as a crucial high-timeframe support zone. Notably, this region coincides with a previous capitulation low that has now become an area of demand. The continued defense of this level signals growing confidence among buyers, especially after the recent approval of the Solana ETF, which has attracted strong investor inflows.
### Key Technical Points for Solana Price
– **Critical Support:** The $145 level serves as a robust high-timeframe support and has been repeatedly defended since the recent sell-off.
– **Volume & Inflows:** Solana ETFs have recorded $9.7 million in net inflows, marking seven consecutive days of investor demand.
– **Potential Bottom:** Multiple retests at the $145 support level combined with rising ETF interest suggest the formation of a bottoming structure.
From a technical perspective, Solana’s price structure exhibits classic accumulation characteristics. After the capitulation event that drove prices towards the $145 region, there have been multiple rejections of lower prices. Each rejection has been followed by candlestick wicks indicating strong buybacks. This pattern typically signifies demand absorption — a sign that selling pressure is waning.
Further strengthening this support zone is the alignment with the 0.618 Fibonacci retracement level, adding significant technical confluence. Several candles have closed above this level, reinforcing the likelihood that buyers are gradually regaining control.
### Resistance and Next Targets
The immediate resistance to watch is in the $180-$200 range, where the value area high and the 50-day moving average intersect. A decisive reclaim of this range, supported by sustained volume, could trigger a momentum-driven rally targeting higher resistance levels near $220.
### Fundamental Strength from ETF Approval
The recent approval of Solana ETFs has added an important fundamental layer to the bullish outlook. Data shows that Solana ETFs have attracted over $9.7 million in net inflows recently, marking seven consecutive days of strong investor participation. This steady inflow reinforces institutional interest and adds credibility to the current price defense.
If these inflows continue alongside improving technical structure, Solana is well-positioned to emerge as one of the leading assets in the next bullish cycle.
### What to Expect in Coming Price Action
If Solana maintains its $145 support and continues to attract ETF inflows, a short-term reversal rally towards the $180-$200 range could unfold. However, a break below this support would invalidate the bullish scenario, exposing $120 as the next key downside target.
Traders and investors should closely monitor these levels and ETF activity to gauge Solana’s potential trajectory in the coming weeks.
https://bitcoinethereumnews.com/tech/solana-price-defends-145-level-following-etf-approval/
