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Solana tests major monthly support near $135, with technical setups and ETF flows hinting at a possible reversal toward $315.Solana tests major monthly support near $135, with technical setups and ETF flows hinting at a possible reversal toward $315.

Solana (SOL) to $315? The Key Chart Signal You Need to See

2025/12/08 04:23

Solana (SOL) is trading near a key monthly support zone, with the price hovering around $132. Over the past week, it has dropped 3%, while daily losses stand at 1%.

Consequently, traders are watching this area as it aligns with a long-term ascending channel support level.

Testing Long-Term Support on Monthly Chart

According to a chart shared by Rose Premium Signals, SOL is now sitting near the lower boundary of its ascending channel on the 1-month timeframe. This zone has previously acted as a base for multiple upward moves. Current price action suggests the level is holding for now.

Notably, the chart outlines two upside levels: $263 and $315. These align with the channel’s middle and top. Price structure remains intact as long as the trendline is not broken.

Furthermore, CryptosBatman posted a weekly chart showing SOL has stayed in a wide range between $125 and $250 for nearly two years. The price has once again reached the lower edge of this range. A small bounce has followed.

The Stochastic RSI indicator is showing a golden cross, with values in the oversold zone. CryptosBatman said this “might be a good setup here for a potential bounce.” As long as the price stays above the support, the range remains valid.

Short-Term Moves Depend on Holding Support

On the 4-hour chart, shared by BitGuru, SOL is reacting at a previously tested support zone between $124 and $125. After dipping to this level in late November, the asset bounced and is now moving around $138. Consolidation is visible below the $140 level. BitGuru noted,

If buyers maintain control above $134–$135, the price could push toward $145.84 and $149.31. If not, the lower zone may be tested again.

ETF Launch and Market Flows

Franklin Templeton launched its spot SOL ETF on December 5. It currently holds 17,000 SOL tokens, worth around $2.4 million. The ETF applies a 0.19% fee and will stake its holdings.

As CryptoPotato reported, ETF data shows $531 million in inflows during the first week of trading. However, since November 26, Solana ETFs have seen money move out—except for November 28, December 2, and December 4, when inflows returned. Despite the recent pressure, total assets have stayed above $900 million. A fresh inflow of $4.59 million came in most recently, pointing to a possible shift in sentiment.

Solana (SOL) Daily Total Inflows 05.12. Source: SoSoValue

The post Solana (SOL) to $315? The Key Chart Signal You Need to See appeared first on CryptoPotato.

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