Technical Outlook for Solana (SOL)
Solana (SOL) price has maintained support within the crucial zone of $105 to $125, as buying interest has emerged. If this range remains intact, it could potentially set the stage for a significant upward movement.
One prominent analyst has forecasted that a decisive rebound from this support area could lead to SOL price achieving a clean breakout, potentially reaching $240.
The SOL price chart is currently exhibiting a rare alignment of technical indicators. As highlighted by DrBullZeus, the market is positioned in a zone that warrants considerable attention. The price has directly entered a region described as "liquidity grabbed and pump hard," which coincides precisely with a clearly defined bullish order block. This area has historically provided support for Solana, and it is showing signs of holding firm once again following a pullback that has lasted several weeks.
Solana is currently forming a large descending triangle pattern, and the price is consolidating further within this structure. This technical setup suggests that a substantial price movement could be imminent. If buyers successfully defend the $105–$125 range, Solana could initiate a strong rebound. Such a bounce might propel the price towards the $240 mark, which is close to its previous all-time high and represents a significant liquidity area.
Looking further ahead, the apex of the descending triangle is projected to occur in early 2026, indicating that a major price move could be on the horizon. This potential surge might commence in the coming weeks or gradually build momentum as it approaches that key juncture. However, the underlying technical setup is already evident. The primary requirement for Solana at this moment is sustained upward momentum.
Crypto Tony has identified the $130 level as a critical pivot point. A rejection at $130, particularly if followed by signs of weakness on lower timeframes, would suggest that any recent bounce is merely a temporary relief rally. Such a reaction often precedes a clear shorting opportunity, with downside pressure expected to return with considerable force.
Solana Spot ETFs See Sustained Inflows
Solana spot ETFs have now recorded their 18th consecutive day of positive net inflows, with the cumulative investments reaching a total of $510 million. Since their launch in early November, these ETFs have attracted significant institutional interest, fostering growing confidence in Solana's long-term potential.
The Bitwise BSOL fund is currently leading the Solana spot ETF market, having drawn in approximately $444.1 million, which accounts for nearly 90% of the total inflows. Other prominent participants, including Fidelity (FSOL), Grayscale (GSOL), VanEck (VSOL), and 21Shares (TSOL), have also reported steady inflows. Fidelity has attracted $9.8 million, Grayscale $41.1 million, VanEck $3.5 million, and 21Shares $1.2 million.
Potential Downtrend Signals for Solana
Solana's moving averages are currently flashing a warning signal. The short-term Exponential Moving Average (EMA) is nearing a crossover below the long-term EMA, a pattern that traders refer to as a Death Cross. This formation often indicates the onset of a more extended downtrend. Historical data shows that Solana has experienced similar patterns in the first and second quarters of the year, suggesting that history may be repeating itself.
In previous cycles, Solana experienced a decline of 59% from its local peak before the Death Cross fully materialized. If this pattern were to recur, SOL could potentially fall towards the $98 level, extending its current 47% decline from its recent high.