Solana traded above the $130 level on Monday, December 15, as price action stayed tight near a key resistance zone.
The token held this range for several sessions, signaling consolidation rather than weakness. Traders viewed the stability as a pause before a potential directional move.
Market sentiment around Solana improved as institutional participation remained strong. Spot Solana ETFs continued to attract steady capital, reinforcing confidence in the asset.
Institutional inflows played a central role in supporting Solana’s current price structure. Large investors appeared willing to accumulate during consolidation rather than wait for a breakout.
The broader crypto market showed mixed signals during the session. Bitcoin traded below $90,000, while Ethereum hovered above the $3,100 level.
Other major altcoins moved sideways alongside Bitcoin and Ethereum. XRP, Cardano, and Dogecoin failed to show clear trend strength.
Bitwise Solana ETF extends inflow streak to 33 days
Data from Bitwise Investment highlighted sustained demand for Solana exposure. Its spot Solana ETF recorded 33 consecutive days of net inflows, reaching $608.9 million in total capital.
This inflow streak showed increased confidence in Solana’s regulated investment products. Analysts saw this trend as an indication of long-term positioning and not short-term speculation.
According to SoSoValue data, Solana spot ETFs still recorded weekly net inflows. Solana ETFs have total assets under management of around $928 million, as of Monday.
Bitcoin spot ETFs were able to draw in net inflows of $287 million during the same period. Ether spot ETFs accumulated $209 million, and Solana ETFs accumulated $33.6 million with zero outflow.
Source: SoSoValue
Solana price setup: $150 upside on confirmed breakout
At the time of reporting, Solana was trading around the $133 region. Buyer interest again appeared in the price, within a defined range.
On the four-hour chart, Solana created a horizontal formation. The support was still strong at around $130, with resistance currently being around $140.
The token has been trading between $130 and $140 over the past two weeks. This range was an indication of balance since bulls and bears awaited confirmation.
If buyers confirm a breakout above $140, they may gain momentum. The next move target is close to $150, implying a potential 13% move.
From a technical perspective, the MACD indicator shows early recovery. The MACD line was close to -4.01, the signal line close to -4.77, and the histogram printed close to 0.77.
This setup indicated a decline in bearish momentum. Further increase would reinforce the possibility of a bullish continuation.
Source: TradingView
The Relative Strength Index was around the neutral levels. RSI was around 43.97, almost following its average of around 44.04.
This level represented consolidation rather than exhaustion. Solana still had space to go up without going into the overbought zone.
So far, the $130 level is one of the critical supports. A clear breach of this level may undermine the strength of the bullish formation and even cause it to fall to the $122 zone.