Solana Price Poised for a Bullish Breakout, Driven by Strong Institutional Demand!
Jakarta, Pintu News – Solana edged up and above $90 on Monday (16/3), after recording a 13% gain during the previous week. Interest from both institutional and retail investors in Solana remains strong, as reflected by rising fund inflows and Open Interest.
Technically, the SOL movement is now highlighting the 50-day EMA as the closest resistance area, which still limits the upside potential of the price to break the $100 level.
Growing ETF inflows support Solana’s recovery
Solana still maintains its appeal among institutional investors, as SOL-based Exchange Traded Funds (ETFs) recorded inflows of $7.60m on Friday. With the addition, the total weekly net flow reached $10.70m. These consistent ETF inflows reflect institutional demand that remains solid and has the potential to cushion downward pressure on prices.
At the same time, retail investor interest in Solana has also started to strengthen and is approaching institutional investor optimism. Based on CoinGlass data, the Open Interest (OI) of SOL futures contracts rose by more than 7% in the last 24 hours to reach $5.57 billion. This increase indicates the addition of new positions or increased use of leverage in the market.
As capital flows into the Solana futures market increased, the liquidation data also showed the elimination of many bearish positions. In the last 24 hours, the Solana futures contract recorded a total liquidation of $15.50 million, which was dominated by the liquidation of $14.43 million worth of short positions. This indicates that most of the liquidated positions came from market participants who had previously bet on price weakness.
Technical outlook: Will Solana rise through $100?
Solana continued its gains on Monday, having previously gained almost 5% a day earlier. SOL’s price recovery is now moving above the February 5 opening level of $92.11, which serves as the upper limit of the consolidation area, while the February 5 closing level of $78.35 is the lower support.
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This still relatively limited recovery opens up the opportunity for an upward breakout, but the movement remains stuck quite far below the declining 50-day Exponential Moving Average (EMA) at $94.17. If the price is able to close convincingly above this average, then the next upside target could potentially be towards the 100-day EMA at $109.58.
The Moving Average Convergence Divergence (MACD) indicator has entered the positive zone, while its histogram is widening, indicating that the upward momentum is gaining strength. On the other hand, the Relative Strength Index (RSI) is at 58 and has risen above the centerline, reinforcing the bullish bias in the short term.
However, on the downside, if the price closes bearish today, then SOL has the potential to reverse direction and move back inside the consolidation area, with the possibility of testing the base level of support at $78.35.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- FX Street. Solana Price Analysis: SOL eyes bullish breakout as institutional demand holds strong. Accessed on March 16, 2026
