Solana price increased by up to 15% in the last week, reaching $97. During the same period, spot Solana ETFs had their strongest weekly performance since February. A total net inflow of $39.23 million was recorded. This activity in the ETF market brought about a significant increase in positions in futures transactions. In May, Solana futures open interest increased by $1.5 billion. This situation reveals that investors are taking more aggressive positions in derivative markets.
Significant Increase in ETF Flows
Last week, BSOL ETF offered by Bitwise provided the highest capital flow among Solana ETFs. This fund alone generated net inflows of $36 million on a weekly basis. Fidelity’s FSOL fund also added $1.8 million. It is noteworthy that BSOL ETF reached a total volume of 861 million dollars. This figure accounts for 81 percent of total inflows into all Solana ETFs; The combined volume of all spot Solana ETFs in the market reached $1.06 billion.
The increasing interest in ETFs was also reflected on the futures side. Open positions reached $6.4 billion from $4.94 billion on May 1, an increase of 29.5 percent in two weeks. This jump in trade volumes indicates that buyers are starting to take more risks in the market. The cumulative transaction volume accumulated in the spot market increased from 163 million dollars to approximately 250 million dollars in 5 days, along with CVD data.
Technical Indicators and Price Volatility
The volume increase and price movements observed in Solana in both spot and futures markets produce some technically important signals. Last week, SOL price rose above its 100-day exponential moving average to its highest technical level in the last eight months. This technical outlook, combined with interest in ETFs, strengthens bullish sentiment.
“Adam and Eve” formation is forming around the $95 level in Solana. If the price breaks this resistance and stays above it, technically the $120 target may come to the fore.
The financing rate in the futures market remained at 0.065 percent. This shows that investors continue to pay premiums to maintain long positions. However, there has been some horizontalization in spot and volume values in the last 24 hours.
Analysts’ Comments and Resistance Zones
According to technical analysis comments, the $95 resistance is critical in Solana price. If this level is exceeded in the medium term, the new target is expected to be $120. In addition to the Adam and Eve formation on the charts, exceeding the 100-day moving average provides additional support to the upward trend. On the other hand, it is emphasized that after the sharp decline of 42 percent in February, there is no significant resistance in the region between 95 and 120 dollars.
Crypto analyst BATMAN stated that Solana broke the 231-day downtrend in the SOL/BTC parity against Bitcoin. According to the analyst, the $89-$91 range now stands out as the main short-term support zone, and as long as the price remains above this level, new rises may be open.
Market experts state that the combination of volume increase and technical indicators is gradually increasing the buyer pressure on Solana. It is stated that if daily closings and price consolidation occur especially above $95 in the coming days, the technical target will be $120.
This acceleration in spot and derivative purchases indicates an increase in investors’ confidence in Solana and new capital inflows to the market.
