- Solana’s breakout above $153 confirms bullish triangle pattern continuation.
- $80 million ETF inflows show rising interest in Solana-based assets.
Solana (SOL) has pushed past key technical resistance, signaling bullish momentum across both spot and derivatives markets. On July 9, Solana broke out of a symmetrical triangle pattern near the $153 level, according to crypto analyst Ali Martinez.
The move came after a period of sideways action between $146 and $153, where bulls began regaining control. The breakout was confirmed at around 10:45 UTC on Coinbase’s 1-hour chart and aligns with the 1.27 Fibonacci extension level, which is near $164.
Martinez’s chart data from Binance’s 4-hour timeframe supports this upward trend. The pattern of higher highs and higher lows suggests continued strength, with short-term projections ranging between $166 and $170. Analysts note that if volume remains elevated and buyers sustain momentum, previous resistance zones could flip into support.
Futures Volume Surpasses $4 Billion on CME
Solana futures have also posted strong growth on the CME Group platform. On July 8, CME Active Trader reported that the notional volume of SOL contracts exceeded $4 billion. This includes both standard and Micro Solana futures, showing increased activity among institutional and retail traders.
The rising futures volume suggests that traders are actively using Solana derivatives to manage exposure and react to market trends. Solana’s official account echoed the update, highlighting increased participation across global markets.
Solana ETFs Attract $80 Million in Monthly Inflows
In parallel with futures market activity, Solana ETFs have recorded rising capital inflows. Bloomberg analyst Eric Balchunas reported that the $SSK ETF saw a single-day inflow of $20 million, bringing its total assets to $41.94 million. This places it ahead of $SOLZ, which holds $24.11 million, though behind $SOLT at $64.46 million.
Combined, the three Solana ETFs attracted $80 million over the past month, nearly doubling their assets. The inflow trend appears consistent across 1-day, 1-week, and 1-month data, suggesting growing confidence among market participants. While smaller than Bitcoin or Ethereum ETFs, the Solana products continue to gain momentum within the expanding ETF landscape.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
