3 Data Points Indicating SOL's Bottom at $130: Is a Move Back to Range Highs Imminent?

3 Data Points Indicating SOL's Bottom at $130: Is a Move Back to Range Highs Imminent?

Summary:
Recent market activity suggests that Solana (SOL) might have hit a bottom at $130, positioning it for a potential rebound toward $250. Enhanced interest among buyers and institutional inflows into Solana-related ETFs further support this optimistic outlook.

Key Takeaways:

Solana's recovery from the $130 support level points to a possible rise to $250.
Increasing open interest and spot demand indicate a resurgence of buyers in the market.
Institutional interest in SOL is climbing, with $390 million in total ETF inflows fueled by excitement over upcoming Solana ETF launches.

Solana's recent bounce back from its support level of $130 suggests that the price could potentially reach $250 as it stabilizes. This sentiment is reinforced by a marked increase in buying activity and solid demand among institutional investors.

Analyzing SOL’s Market Structure for a Possible Return to $250

The recent price movements of SOL since November 11 reveal a V-shaped recovery pattern on the four-hour chart, following a significant drop where the price decreased by 25% from its peak of $173. Buyers have stepped in, resulting in a noticeable recovery. The relative strength index (RSI) has risen from a low of 28 to 50 since November 13, reflecting increased upward momentum.

Related: ‘Large disparity’ observed between XRP and Solana investor interest: Executive commentary

As SOL continues to form its V-shaped pattern, it could potentially rise to its neckline near the $170 supply area, signifying a 22% increase from its current price.

SOL/USD four-hour chart. Source: Cointelegraph/TradingView

Upon reviewing the weekly chart, it’s clear that strong support exists at the $130 level for the SOL/USD pair. Notably, earlier rebounds from this same level have led to substantial rallies—108% up to $265 from $127 between September 2024 and November 2024, as well as a 98% increase to $250 from $130 between June 2025 and September 2025. Should this pattern repeat, SOL could potentially extend its recovery to $250, representing an 80% jump from its current levels.

SOL/USD weekly chart. Source: Cointelegraph/TradingView

Additionally, the RSI has recently reached oversold conditions in shorter time frames, a level that commonly precedes notable price reversals. According to Cointelegraph, if SOL can reclaim the 20-day EMA at $160 as support, the price may rise back to the $180-$200 range.

Buyers Return to Spot and Futures Markets

Recent data from CoinGlass shows that Solana's futures open interest (OI) has risen by 5% in the last 24 hours to reach $7.3 billion. Alongside this, perpetual funding rates have turned positive to 0.0059%, up from -0.0001%, coinciding with the OI surge. The growth in both OI and funding rates signals a renewed demand in SOL's futures market, setting the stage for a potential sharp price reversal (short squeeze) if positions become overcrowded.

Additionally, the net taker volume has turned positive, indicating that more buyers are entering the market at lower price levels. The rising spot cumulative volume delta (CVD) highlights that the market recovery is being driven by both spot and futures transactions, seen as a healthy indicator.

SOL price, Net taker volume, and aggregated CVD for spot and futures. Source: Cointelegraph/TradingView

Investor Interest in Solana ETFs Grows

Investor interest in spot Solana exchange-traded funds (ETFs) has been on the rise, marking its 15th consecutive day of inflows, highlighting robust institutional demand for Solana’s native asset. On Monday alone, U.S.-based SOL ETFs recorded an addition of $8.26 million, bringing the total cumulative inflows to $390 million and pushing total net assets above $513 million, according to SoSoValue data.

Spot Solana ETF flows data. Source: SoSoValue

The recent launch of VanEck’s Solana ETF, along with anticipated launches of additional ETFs in the coming week, is expected to strengthen SOL's trajectory. Furthermore, Nansen’s data indicates a healthy increase in network activity, with an 18% rise in daily active addresses and a 9.1% increase in daily transactions over the past 30 days.

30-day performance of major blockchains. Source: Nansen

As reported by Cointelegraph, the strengthening on-chain metrics for Solana, along with the dominance in decentralized application (DApp) revenue, suggests a solid foundation for future growth in SOL’s value.