Solana prices traded above the $75 mark on Monday, holding ground after experiencing a 2.18% correction during the previous week and successfully finding support near the ascending trendline. The broader digital asset market continues to witness interesting dynamics across both institutional investment channels and technical indicators.
Institutional Demand and Spot ETF Inflows
Institutional interest in Solana remains exceptionally sturdy. Data indicates that US-listed spot ETFs pulled in $10.26 million in inflows last week. This marks the highest weekly inflow figure since May 22 and represents the seventh consecutive week of positive inflows for the asset. Market observers note that if these inflows persist and gather momentum through the trading week, SOL could witness an extension of its recent gains.
Technical Indicators and Moving Average Levels
Trading at $75.39 on Monday, Solana remains positioned marginally above its 50-day Exponential Moving Average (EMA) located at $75.45. However, prices continue to stay capped beneath the 100-day EMA at $78.10 and the higher 200-day EMA at $93.02, keeping the overarching trend restrained despite minor short-term bounces. Momentum indicators display a neutral stance, with the Relative Strength Index (RSI) hovering around 51 and the Moving Average Convergence Divergence (MACD) sustaining a positive territory reading, pointing towards stabilizing demand even as macro structure urges caution.
Key Resistance and Support Thresholds
On the upside, immediate resistance is observed around the $75.80 (R1) and $76.20 (R2) marks, followed by the 100-day EMA threshold. A sustained push and close above these barriers would be necessary to clear the current cap and pave the path toward higher resistance zones. Conversely, downside protection relies on immediate support at $74.71 (S1) and $74.04 (S2), while the 50-day EMA serves as an immediate line of defense against deeper corrective phases within the ongoing range-bound market structure.
Wider Cryptocurrency Market Context
Concurrently, other prominent digital assets experienced varied price action. Cardano traded near $0.177 following a correction exceeding 10% the previous week, pressured by whale wallet liquidations. Meanwhile, Bitcoin hovered around $63,000 on Monday, edging higher despite broader risk-off market sentiments driven by geopolitical tensions in the Middle East and regulatory concerns. Worldcoin and World Liberty Financial emerged among top performers over a 24-hour window. Major tokens like Bitcoin, Ethereum, and Ripple commenced the weekly cycle cautiously after dropping 3%, 1.5%, and 3.5% respectively in the prior week, with Bitcoin finding baseline support near $62,300 while Ripple hovered around the $1.00 psychological threshold.
