Solana News Today: Institutional Interest Drives Solana Back to $130, Sets Sights on $250 Breakout

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Solana News Today: Institutional Interest Drives Solana Back to $130, Sets Sights on $250 Breakout

Bitget-RWA2025/11/22 23:20

By:Bitget-RWA

- Solana (SOL) tests $130 support with RSI rising to 50 and historical 100%+ rebound patterns suggesting potential recovery. - Institutional demand accelerates via $8.26M ETF inflows and GeeFi's $250K token presale success, boosting market confidence. - On-chain metrics show 18% YoY address growth and 9.1% 30-day transaction increases, reinforcing network fundamentals. - $170 breakout could target $250, but volatility risks persist as seen in BlackRock's $532M ETF loss amid crypto declines.

Solana (SOL) is currently holding at a crucial support level near $130, with both technical signals and institutional interest pointing to a possible upward move. After dropping 25% from $173 to $128, the price has staged a V-shaped recovery since November 11. The Relative Strength Index (RSI) has

climbed from 28 to 50

, indicating that buying momentum is building.

Solana News Today: Institutional Interest Drives Solana Back to $130, Sets Sights on $250 Breakout image 0

Looking at past trends,

recoveries from this zone have sparked rallies exceeding 100%

, such as the 108% jump to $265 seen in late 2024. Open interest in Solana futures has

grown by 5% over the past day

to reach $7.3 billion, and net taker volume has turned positive, showing that spot buyers are entering at lower prices.

Interest from large investors in

Solana

is on the rise, fueled by ETF investments and new product introductions.

U.S. Solana ETFs saw $8.26 million in new investments

on November 19, pushing total assets to $513 million.

Fidelity's Solana ETF

(FSOL), which launched on November 19 with a 0.25% management fee, along with VanEck’s recent entry, have boosted momentum

as reported by TradingView

. These ETFs have attracted over $500 million in net inflows so far this year, in contrast to

Bitcoin

ETFs, which

experienced $903 million in withdrawals

on November 20.

Solana’s on-chain data continues to support a bullish outlook.

Daily active users have increased by 18% compared to last year

, and

transaction volume has grown 9.1% over the past month

. The network now handles more than 10,000 transactions per second, with transaction fees frequently below one cent

according to Yahoo Finance

The number of developers has jumped 61.7%

in two years, with 17,708 active contributors driving progress in DeFi, NFTs, and tokenization of real-world assets.

Market dynamics point to further upside for

SOL

If the price breaks above the $170 resistance

, it could aim for $250, representing an 80% increase from current prices. The combination of institutional buying and Solana’s technical improvements sets the stage for continued expansion. Still, volatility persists, as highlighted by BlackRock’s Bitcoin ETF (IBIT), which

saw a $532 million outflow in a single day

during a broader crypto market downturn.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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