NewsBTC

16 May 2025

3 0

Solana Capital Inflows Turn Positive as Price Holds Above $170 Level

Solana (SOL) is currently trading around $170, having reached a recent high of $184. Key points include:

• Support is critical above $170 to maintain bullish momentum.
• New data indicates a trend reversal with 30-day capital inflows positive at 4-5%, similar to XRP.
• A decisive break above the $185 resistance level is necessary for further gains.
• The broader crypto market rally fuels optimism for Solana's potential upward trend.
• Current price action reflects strength as SOL is above its 200-day EMA ($162.21) but faces selling pressure near $181.
• If SOL holds above $181, it could lead to upward movement towards the $200-$220 range.
• A breakdown below $162 may trigger a deeper retracement toward $150.

Traders are closely monitoring these levels to gauge Solana's next move.