Key Takeaways
- Solana spot ETFs in the United States attracted $1.58 million in net inflows on August 18, pushing total cumulative inflows to $1.16 billion.
- SOL reached $86 during Wednesday’s trading session before moderating to approximately $84.81.
- Market observers are focusing on $100 as a critical threshold, with a sustained break above signaling potential market bottom confirmation.
- Analyst Ali Charts has identified extended price objectives of $295 and $400 for the long term.
- Trader Michaël van de Poppe maintains SOL is positioned for a significant upward move.
Solana reached the $86 mark on Wednesday before experiencing a modest retreat, currently hovering near $84.81. Meanwhile, exchange-traded fund inflows persist as market participants monitor the psychologically important $100 threshold.
United States-based Solana spot ETFs registered $1.58 million in inflows on August 18, based on SoSoValue tracking data. This activity elevated aggregate net inflows to $1.16 billion since these investment vehicles debuted.
Combined net assets across all Solana ETF offerings reached $923.57 million, while trading volume for the day totaled $30.13 million.
Bitwise captured the entire $1.58 million in daily inflows for August 18. Competing funds reported zero net inflows during the same trading period.
Previous inflow activity included $8.83 million on August 10 and $1.43 million on August 11. August 6 saw a minor outflow of approximately $859,450, demonstrating that capital movement hasn’t been uniformly positive.
Market Watchers Focus on $100 Breakthrough
Cryptocurrency analyst Ali Charts identifies $100 as the pivotal price point for SOL. A convincing break above this level would strengthen his conviction that the market has already established its cycle low.
Instead of attempting to catch the exact bottom, Ali Charts has been systematically building his SOL position through dollar-cost averaging, targeting a price corridor between $40 and $70.
Wednesday’s rally to $86 places SOL above this accumulation zone, though it remains beneath the $100 mark that Ali Charts views as a crucial confirmation signal.
Ali Charts has also mapped out extended price objectives of $295 and $400, which would represent approximately 288% and 430% gains from his baseline price. These targets form part of a comprehensive strategy that incorporates staking rewards.
Regarding staking returns, he referenced a gross annual percentage 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, netting approximately 53 SOL retained.
Chart Indicators Suggest Bullish Momentum
Trader Michaël van de Poppe shared on X that $SOL continues to be primed for a substantial upward breakout, echoing the optimistic sentiment prevalent among other market participants.
SOL maintains positioning 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 barrier to overcome is the 200-day EMA at $88.82, which aligns closely with the 78.6% Fibonacci retracement level at $90.21.
Wednesday’s advance to $86 brought Solana within striking distance of this resistance cluster. Successfully clearing $88.82 would establish a runway toward the $98.41 swing high and the psychologically significant $100 level.
For downside protection, support appears at the 50% retracement level of $79.27 and the 100-day EMA at $78.41.
The $1.16 billion in total Solana ETF inflows, Wednesday’s $86 peak, and the present trading price of $84.81 constitute the primary metrics market participants are monitoring.
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