Solana's Price Recovery Hinges on Breaking Through Key Resistance Zone
Solana's price has recovered above $120 after a week of record-breaking ETF inflows. The seven U.S. spot Solana exchange-traded funds recorded a combined net inflow of $188 million, with Bitwise's BSOL accounting for about 68% of that total at $128 million.
The daily technical picture is supportive, with SOL's relative strength index standing at 65.4 and its 14-day moving average above the 200-day average. The daily MACD histogram was positive, and MACD(12,26) was 0.679, carrying a Buy classification.
However, the immediate market question is technical: price remains below a closely packed resistance band beginning at $122.57 and extending to the psychological $125 mark. A sustained move through that zone would strengthen the case that SOL has converted former overhead supply into a platform for continuation.