Solana Consolidates Near $75 Amid Sustained Institutional Interest
Solana (SOL) continues to consolidate near $75 as institutional interest persists. Despite a 2.18% decline over the previous week, SOL has attracted $10.26 million in fresh capital through spot ETF vehicles last week, marking the seventh consecutive week of net positive inflows.
The token's price remains above its critical support area of $73-$75, with a modest 0.20% gain over the last 24-hour period. The cryptocurrency's market capitalization stands at approximately $44.03 billion, while daily trading activity hovers around $629 million.
Analysts believe that Solana needs to reclaim the $78-$80 price corridor to unlock further growth towards $100 and $113. However, a breakdown below $73 could trigger a downside movement to the $60-$61 zone, as observed by market analyst Alex Marzell.