Solana
Solana Reclaims $120 Following Record Spot ETF Inflows While Facing Resistance Below $125
Strong inflows into U.S. spot Solana exchange-traded funds pushed the token back above $120, though technical resistance and trading volume remain key hurdles.
Solana traded at $120.96 on the morning of October 4, recovering above the $120 threshold after U.S. spot Solana exchange-traded funds logged a record $188 million in weekly net inflows through September 25. Bitwise's BSOL led the group with approximately $128 million, or 68% of the total, while all seven spot funds registered positive flows, including a single-day intake of $87 million on Friday.
Despite the supportive fund flows, the asset faces technical resistance between $122.57 and the $125 level. Daily technical indicators remain constructive, with the 14-day relative strength index at 65.4 and the spot price trading above key exponential moving averages, including the 20-day at $112.54, 50-day at $102.44, 100-day at $94.39, and 200-day at $94.86. The daily MACD histogram also showed positive momentum with a reading of 0.679.
However, lower-timeframe indicators display caution, with the four-hour RSI standing at a neutral 57.8. The piece notes that while 24-hour turnover reached an elevated $1.58 billion, reduced trading volume during the latest push toward resistance suggests the breakout attempt remains unconfirmed by broad market participation.
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