Key Takeaways
- Solana spot ETFs in the United States saw $1.58 million in daily net inflows on August 18, pushing total cumulative inflows to $1.16 billion.
- The SOL token peaked at $86 this Wednesday before experiencing a minor pullback to approximately $84.81.
- Market observers are monitoring the $100 price point as a critical resistance level, with a sustained break above signaling potential bottom confirmation.
- Long-range forecasts from crypto analyst Ali Charts project targets of $295 and $400.
- Trader Michaël van de Poppe maintains that SOL is positioned for a significant upward move.
Solana reached a high of $86 this Wednesday before retracing modestly, currently hovering near $84.81. Meanwhile, ETF capital continues flowing in as market watchers keep their attention fixed on the psychologically important $100 threshold.
According to data from SoSoValue, Solana spot ETFs in the United States attracted $1.58 million in net inflows on August 18. This addition elevated the aggregate net inflows since launch to $1.16 billion.
The combined net assets across all Solana ETF offerings reached $923.57 million, while trading volume for the day totaled $30.13 million.
Bitwise was responsible for the entire $1.58 million inflow on August 18. The remaining ETF providers registered zero net movement during that trading session.
Previous inflow activity included $8.83 million on August 10 and $1.43 million on August 11. A minor outflow of approximately $859,450 occurred on August 6, indicating that capital movement has not been consistently in one direction.
$100 Emerges as Critical Resistance Zone
Cryptocurrency analyst Ali Charts has identified $100 as the pivotal price level for SOL. A convincing breakthrough above this mark would strengthen his conviction that the asset has already established its market floor.
Instead of attempting to catch an exact bottom, Ali Charts has been building his position in SOL through dollar-cost averaging, targeting a purchase range between $40 and $70.
The Wednesday rally to $86 positioned SOL above that strategic accumulation zone, though it remains beneath the $100 milestone that Ali Charts views as a crucial confirmation signal.
Ali Charts has also identified extended-term objectives at $295 and $400, representing approximately 288% and 430% gains from his baseline price. He characterized these projections as components of a comprehensive strategy that incorporates staking rewards.
Regarding staking returns, he referenced a gross annual yield of approximately 5.7%. For a position of 1,000 SOL, this would produce roughly 57 SOL annually before accounting for a 7% validator fee, resulting in about 53 SOL retained.
Chart Analysis Suggests Upside Potential
Trader Michaël van de Poppe shared on X that $SOL is primed for a substantial upward breakout, echoing the optimistic sentiment prevalent among several market participants.
SOL is currently trading above both its 50-day exponential moving average at $76.30 and its 100-day EMA at $78.41. The relative strength index registers near 72, indicating overbought conditions, while the MACD displays a bullish signal configuration.
The immediate resistance level is the 200-day EMA at $88.82, positioned near the 78.6% Fibonacci retracement level of $90.21.
Wednesday’s advance to $86 moved Solana within striking distance of that resistance area. A successful breakthrough above $88.82 would clear the pathway toward the $98.41 swing high and the round-number $100 mark.
Support levels on the downside include the 50% Fibonacci retracement at $79.27 and the 100-day EMA at $78.41.
The $1.16 billion cumulative Solana ETF inflow total, Wednesday’s $86 local peak, and the current trading price around $84.81 represent the primary data points market participants are monitoring closely.
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