Solana reached a peak of $86 before pulling back slightly to trade around $84.81. The recent price movement coincides with ongoing developments in US spot exchange-traded funds and market attention focused on upcoming technical resistance levels.
According to data from SoSoValue, US spot Solana ETFs recorded $1.58 million in net inflows on August 18, led entirely by Bitwise. This addition brings the aggregate net inflows since the funds' launch to $1.16 billion. Combined net assets across all Solana ETF offerings reached $923.57 million, with a daily trading volume of $30.13 million for that session.
Market observers are closely watching the $100 threshold as a critical level. Analyst Ali Charts noted that a sustained move above $100 could confirm that a market bottom has been formed, following an accumulation phase between $40 and $70. Charts has also outlined longer-term price targets of $295 and $400, while incorporating considerations for staking rewards yielding a gross rate of approximately 5.7%.
From a technical standpoint, trader Michaël van de Poppe indicated that SOL is positioned for an upward move. The asset is holding above its 50-day exponential moving average of $76.30 and its 100-day exponential moving average of $78.41. Meanwhile, the relative strength index approaches 72, and the MACD shows a bullish configuration.
Immediate resistance is situated near the 200-day exponential moving average at $88.82 and the 78.6% Fibonacci retracement level of $90.21. On the downside, support levels are established at the 50% retracement mark of $79.27 and the 100-day exponential moving average at $78.41.
