Solana Price Holds Strong at $145 After ETF Approval, Signaling Possible Market Bottom

Solana's price has shown remarkable resilience at the $145 level amid increased market volatility following the approval of its ETF. This stability raises the prospect of a market bottom forming.

Key Takeaways

Solana (SOL) maintains its price around the $145 mark, a significant support level.
The ETF approval has led to increased investor confidence and inflows exceeding $9.7 million.
Technical indicators suggest potential accumulation, with a reversal pivot forming at the $145 support.
Future price movements could see Solana rally towards $180–$200 unless it breaks below $145.

Solana (SOL) has been consolidating at the $145 price point for over a week, marking this level as a vital support zone on the high-timeframe charts. This particular area corresponds with a previous capitulation low, which has since evolved into a significant demand zone.

The ongoing defense of the $145 level reflects increasing confidence among buyers, especially after the recent approval of Solana ETFs, which have attracted robust investor inflows.

Solana price holds $145 level as ETF hints as possible bottom

Technical Analysis of Solana’s Price

Solana price defends $145 level following ETF approval, hints at possible bottom - 1 SOLUSDT (6H) Chart, Source: TradingView

From a technical standpoint, Solana’s price structure indicates signs of accumulation. Following a capitulation that drove prices towards $145, there have been several rejections of lower price points, each accompanied by wicks that signal strong buybacks. This behavior is a typical representation of demand absorption, suggesting that sellers may be running out of steam.

Moreover, the 0.618 Fibonacci retracement level aligns closely with the current support, providing additional technical reinforcement that bolsters this support zone as a likely reversal point. Several candles closing above this area further substantiate the idea that buyers are gradually regaining control.

Immediate resistance levels to watch are between $180 and $200, where the value area high intersects with the 50-day moving average. A decisive reclaim of this price range, supported by sustained trading volume, could initiate a momentum-driven rally aimed at higher resistance levels near $220.

The recently approved ETF has added a substantial fundamental angle to the bullish sentiment. Data indicates that Solana ETFs have generated over $9.7 million in net inflows over the past week, signaling seven consecutive days of active investor engagement. This steady inflow reinforces institutional interest and adds credibility to the current price stabilization efforts.

The consistency of these inflows underscores growing investor faith in Solana’s long-term potential as a blockchain ecosystem. Should this trend continue alongside an improving technical landscape, Solana could emerge as a front-runner in the next bullish market cycle.

Looking Ahead: Future Price Prospects

If Solana can sustain its $145 support level while continuing to attract ETF inflows, a short-term rally towards the $180–$200 range could be on the horizon. However, should it lose this critical support, it might invalidate the bullish outlook, with $120 being the next significant downside target.