Solana price defends $145 level following ETF approval, hints at possible bottom

With a strong resilience at the $145 level, the Solana price maintains support amid heightened volatility following its ETF approval. This opens the possibility of a bottom forming.

Solana’s (SOL) price action has been consolidating around the $145 mark for over a week, with the level acting as a high-timeframe support zone. This region coincides with a previous capitulation low that has now become an area of demand.

The continued defense of this level indicates growing confidence among buyers, especially following the recent approval of the Solana ETF that has seen strong investor inflows.

Solana price key technical points:

• Critical Support: $145 level serves as high-timeframe support, repeatedly defended since the recent sell-off.
• Volume & Inflows: $9.7 million in ETF inflows recorded, marking seven consecutive days of demand.
• Potential Bottom: Multiple retests at support and rising ETF interest suggest the formation of a bottoming structure.

From a technical perspective, Solana’s price structure shows characteristics of accumulation. After the capitulation event that sent prices toward the $145 region, multiple rejections of lower prices have occurred — each followed by wicks showing strong buybacks. This behavior typically represents the presence of demand absorption, a sign that sellers may be exhausted.

The 0.618 Fibonacci retracement closely aligns with the current support, adding technical confluence that strengthens this zone as a possible reversal pivot. Additionally, several candles have closed above this area, reinforcing the possibility that buyers are gradually regaining control.

The immediate resistance to watch remains at $180–$200, where the value area high and 50-day moving average intersect. A decisive reclaim of this range, backed by sustained volume, could trigger a momentum-driven rally targeting higher resistances near $220.

Solana’s ETF approval has added a fundamental layer of strength to the bullish outlook. Data shows that Solana ETFs have attracted over $9.7 million in net inflows recently, marking seven consecutive days of investor participation. This continuous inflow reinforces institutional interest and adds credibility to the current price defense.

The consistency of these inflows highlights growing investor confidence in Solana’s long-term viability as a blockchain ecosystem. If these inflows persist alongside improving technical structure, Solana could position itself as one of the leading assets in the next bullish cycle.

What to expect in the coming price action

If Solana maintains its $145 support and continues to attract ETF inflows, a short-term reversal rally toward $180–$200 could unfold. However, losing this support would invalidate the bullish scenario, exposing $120 as the next key downside target.