Institutions Stack Solana Ahead of SOL ETF—Will This Be the Catalyst for the Price to Reach $1000?

Solana’s price is currently negotiated around $ 146, down 3 to 4% compared to the day, after falling from the recent resistance from almost $ 155 to $ 160. The token entered a consolidation phase after a rally earlier this week and tests key support in the middle of the optimism of the FNB. The feeling of the market remains largely neutral to positive: activity on the chain and the growth of the growth of ecosystems support confidence, even if geopolitical tremors trigger short -term volatility.

In times when many Altcoins have trouble finding a base, Solana quietly attracts the attention of major investors. According to some reports, nearly $ 135 million in assets have been reduced from other channels in Solana in the last 7 days. This also includes more than $ 70 million from Ethereum alone. This also suggests increasing cross -confidence and increased utility. Ethereum-Solana flows leading to the charge underlines the change of change of exchange. This could be a major bullish signal for the resolution price before the FNB approval.

Solana supports herself in a bull structure

In the past two days, the soil price has faced enormous downward pressure as sales degenerate, which pays the price to $ 145. The token forms high consecutive ups and lower stockings, thus displaying the growing domination of bears. Although the token is supposed to maintain a descending trend and reach local support, it remains in a huge bull diagram.

As the graphic above shows, the soil price is negotiated in a model of cup and massive handle in which the sale pressure has not yet disappeared. In addition, the CMF has remained stuck below the average since the beginning of the month, which suggests that no major money takes place in the token. On the other hand, the RSI goes towards the lower threshold, sliding the soil price nearly $ 143 or $ 140, which could act as a base to trigger a rebound. If it does not do so, the price can test the channel support at $ 133, which is one of the most hinged ranges.

Consequently, the hopes of a strong recovery continue to remain high for the Solana price rally (soil) as long as support for $ 133 is strongly detained.