Solana has a robust support of $190, which could trigger a rebound to $240 and above with the increase in ETF inflows.
Solana (SOL) is firmly trading above the crucial support of $190, which may indicate the potential that the price can rebound significantly to reach and even exceed the mark of $240.
The token is still maintained within a bullish rising channel, supported by major technical structure and increasing institutional purchases.
This stability at $190 is raising a lot of excitement among traders and investors as they see a lot of potential upside.
Hidden Bullish Signals Ignite Optimism
Source – X
According to analyst Solana, the 4-hour chart shows a hidden bullish divergence, which is one of the strong indicators that usually come into place before trend reversals.
This optimism is supported by the formation of a double-bottom pattern around the $180 mark.
The Relative Strength Index (RSI) is at 41, indicating falling selling pressure and deteriorating bearish momentum. Such technical indications suggest that Solana is preparing to make a robust recovery, provided it holds the $190 support zone.
Accumulation of liquidity is seen in the range of 178 to 182, which demonstrates the active defense of this level by buyers.
Short-term resistance appears around the 200–205 range, but a break above 200 would signal a rise to 240 and even 300 by December. Analysts describe this recent price movement as a consolidation that sets the stage for a new upward wave.
Solana ETFs Fuel the Rally
The mainstream acceptance is evident in the surging institutional interest in Solana. New ETFs like the Bitwise $BSOL have had more than 130 million inflows in a short time since their inception, and Grayscale has added several million dollars with their ETF, the $GSOL.
In total, Solana ETFs had recorded the fourth consecutive day of robust inflows with almost $200 million total inflows, a pattern that is indicative of capital rotation by Bitcoin and Ethereum funds towards Solana.
This institutional capital inflow increases the market base of Solana and provides the cryptocurrency with new impetus to overcome higher price levels.
Analysts view these ETF inflows as a major booster towards the projected rebound of $240 and above, with further martialization of Solana and better network stability.
The support of Solana at $190 is essential to its bullish trend. If this level holds, the likelihood of additional gains of $240 and possibly even $300 increases.
Promising technical structures and growing institutional support through ETFs are positioning Solana for a dramatic recovery in the coming weeks.