Solana price defends $145 level following ETF approval
The post Solana price defends $145 level following ETF approval appeared com. With a strong resilience at the $145 level, the Solana price maintains support amid heightened volatility following its ETF approval. This opens the possibility of a bottom forming. Summary Key Support: $145 level defended for over a week, showing strong buyer demand. ETF Momentum: $9. 7M in inflows recorded, with seven consecutive days of investment. Bullish Outlook: Sustained ETF demand and support stability could trigger a rebound toward $200. Solana’s (SOL) price action has been consolidating around the $145 mark for over a week, with the level acting as a high-timeframe support zone. This region coincides with a previous capitulation low that has now become an area of demand. The continued defense of this level indicates growing confidence among buyers, especially following the recent approval of the Solana ETF that has seen strong investor inflows. Solana price key technical points: Critical Support: $145 level serves as high-timeframe support, repeatedly defended since the recent sell-off. Volume & Inflows: $9. 7 million in ETF inflows recorded, marking seven consecutive days of demand. Potential Bottom: Multiple retests at support and rising ETF interest suggest the formation of a bottoming structure. After the capitulation event that sent prices toward the $145 region, multiple rejections of lower prices have occurred each followed by wicks showing strong buybacks. This behavior typically represents the presence of demand absorption, a sign that sellers may be exhausted. The 0. 618 Fibonacci retracement closely aligns with the current support, adding technical confluence that strengthens this zone as a possible reversal pivot. Additionally, several candles have closed above this area, reinforcing the possibility that buyers are gradually regaining control. The immediate resistance to watch remains at $180-$200, where the value area high and 50-day moving average intersect. A decisive reclaim of this range,.