1 week ago
5
Investors Show Renewed Interest
According to data from Coinglass, Solana recorded a $16 million spot market inflow on Monday. This marks the first major inflow in 10 days, indicating growing investor confidence. Spot inflows suggest that buyers are acquiring SOL at current prices, signaling increased demand.
Market analysts believe this could help SOL hold above the crucial $200 level. A positive Balance of Power (BoP) reading further supports this view. Currently at 0.23, this indicator suggests buyers are gaining control, strengthening the bullish momentum.
Can SOL Maintain Its Uptrend?
On the daily chart, Solana is testing a key support zone within an ascending parallel channel. Holding this level is critical for its ongoing uptrend. If SOL remains above support, it could attract more buyers and push toward $258.66.
However, if the price breaks below this level, it could signal weakening momentum. A further drop to $113.88 may follow if selling pressure increases.
With fresh inflows and strong support levels, SOL’s price movement in the coming days will be crucial in determining its next direction.
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