With Institutional Funds Returning to Solana, Is a Short-Term $100 Scenario Opening Up?

▲ Solana (SOL) © Coin Readers

Solana, which has repeatedly failed to break through its upper resistance line, is eyeing another rebound opportunity amid signs of institutional capital inflows and improving momentum. Whether it can surpass the key price level of $89 is emerging as a watershed moment that could determine the short-term trend.

According to investment media outlet FXStreet on February 16 (local time), Solana (SOL) is currently trading around $85 and is undergoing a pullback after failing to break above the upper consolidation range of $89.38. However, U.S.-listed spot Solana ETFs recorded net inflows of $13.17 million last week, ending a two-week streak of outflows that had continued since late January. The outlet analyzed that if these inflows continue, the likelihood of a price recovery could increase.

Recovery signals are also being detected in terms of on-chain and institutional demand. According to SoSoValue data, weekly net inflows into Solana spot ETFs have turned positive, while Citi tokenized and executed the entire process of issuance to settlement of a bank draft on the Solana network. Goldman Sachs disclosed holdings of $108 million worth of SOL. In addition, total value locked in Solana-based real-world assets (RWA) reached an all-time high of $1.66 billion, and the number of unique holders surpassed 285,000.

Technically, Solana rebounded from the lower support level of $76.45 and recovered to the upper resistance level of $89.38 before retreating again. If it closes above the upper range on a daily basis, additional gains could open the path toward the psychological resistance level of $100. On the daily chart, the Relative Strength Index stands at 35, rebounding from oversold territory, while the Moving Average Convergence Divergence indicator shows a bullish crossover, suggesting that bearish pressure is easing.

On the other hand, if it closes below $76.45, there remains a risk of further decline toward the February 6 low of $67.50. FXStreet assessed the current zone as a phase of directional exploration and noted that a breakout above the upper resistance will determine the credibility of a short-term rebound.

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