Solana’s price dipped to $130 in recent weeks, raising questions among traders and analysts about whether it marks a market bottom for cryptocurrency.
This development is drawing attention due to ETF inflows and stable on-chain activity, suggesting potential resilience and future price recovery.
Solana’s recent dip to $130 attracts ETF inflows, sparking speculation on price recovery.
Solana’s price drop has prompted renewed interest from institutional investors, despite a lack of comments from its leadership.
Solana’s $130 Dip Attracts Institutional Interest
Solana’s dip to the $130 zone has generated speculation about a potential market bottom. Institutional inflows and rising attention suggest renewed interest, though Solana’s leadership remains silent on affirming this level as a definitive bottom.
The Solana Foundation and Labs leadership, including Anatoly Yakovenko and Raj Gokal, have not issued public statements regarding the $130 price level. Focus remains on ecosystem developments and roadmap events, absent direct commentary on market movements.
Institutional Inflows Hit $18M as Solana Outshines BTC
Institutional inflows into Solana reached $18.06 million last week, contrasting with outflows in BTC and ETH ETFs. This suggests a short-term rotation towards SOL, with traders closely monitoring potential resistance levels.
Analysts highlight the technical support around the $125 mark as pivotal.
“As long as SOL does not break $125, we should see a bounce to around $310. If SOL breaks $125, we are looking at $75.”
Solana’s Past “False Breakdowns” Hint at Recovery
Solana has experienced similar “false breakdowns” before, such as the December 2022 low of $9.38. Past events have shown potential for strong recoveries following these market bottoming behaviors.
Experts suggest keeping an eye on historical trends for potential outcomes. Previous capitulation zones and recovery patterns offer insights into how current price levels might influence future price movement in correlation to broader market trends.
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |
