Solana Bull Flag Forms as Institutional Buying Strengthens Outlook

The Solana price has been showing renewed bullish potential, according to crypto analyst Trader Tardigrade. A bull flag pattern has formed on the daily chart, suggesting that recent consolidation could precede another upward move. The setup follows a breakout from a symmetrical triangle, which previously capped Solana's price action.

Trader Tardigrade has placed a measured-move target near $140 if the bullish setup plays out. The pattern is developing after the Solana price delivered a sharp advance and reached resistance near $108.43. The subsequent pullback has brought the asset back toward important moving-average levels, creating a key decision zone for buyers and sellers.

Bitwise has acquired about $107 million worth of Solana in the last month, according to blockchain intelligence company Arkham. This persistent inflow pattern shows that demand for investment products offering exposure to SOL remains robust, despite the pullback in SOL.