Solana price held above $99 after a mild market correction interrupted its recent rally. SOL declined 2.95% to $99.35 over 24 hours, underperforming the broader cryptocurrency market. However, the token remains 35% higher over the past two weeks.
ETF Inflows Support Price Recovery
U.S. Solana spot exchange-traded funds have recorded eleven consecutive days of net inflows. The total net inflows amounted to $1.35 billion, with combined assets reaching $1.39 billion and session trading volume at $68.55 million.
Bitwise led daily inflows with $6.17 million, followed by Fidelity with $2.67 million. Morgan Stanley received $1.36 million in additional capital, while other listed funds showed no new inflows. Bitwise remains the largest product with $949.83 million in assets and lifetime inflows of $1.03 billion.
Derivatives Activity Accelerates
Solana derivatives trading gained momentum as volume increased 23% to $9.43 billion. Open interest decreased 1.40% to $6.47 billion, indicating some traders were unwinding leveraged positions despite the increased turnover.
Options volume increased 19.30% to $15.18 million, while options open interest rose 2% to $135.98 million.
Technical Levels and Price Outlook
At the time of reporting, SOL price hovered at $99.48 after falling 0.52% on the daily timeframe. The price fluctuated between $97.38 and $100.71, hovering around the psychological $100 mark while maintaining support above $95.
According to technical analysis, a daily close above $100 would open the way to the $110 resistance level. A break above $110 with stronger volume could expose the next level at $120. Conversely, a decline below $95 would expose support at $90, and a prolonged decline below $90 would undermine the broader recovery framework and redirect focus to $80.
