Solana Coin News: Solana’s $190 Support: Could $240 Be Next?

Solana has a robust support of $190, which could trigger a rebound to $240 and above with the increase in ETF inflows.

Solana (SOL) is firmly trading above the crucial support of $190, which may indicate the potential that the price can rebound significantly to reach and even exceed the mark of $240. 

The token is still maintained within a bullish rising channel, supported by major technical structure and increasing institutional purchases. 

This stability at $190 is raising a lot of excitement among traders and investors as they see a lot of potential upside.​

Hidden Bullish Signals Ignite Optimism

Source – X

According to analyst Solana, the 4-hour chart shows a hidden bullish divergence, which is one of the strong indicators that usually come into place before trend reversals. 

This optimism is supported by the formation of a double-bottom pattern around the $180 mark. 

The Relative Strength Index (RSI) is at 41, indicating falling selling pressure and deteriorating bearish momentum. Such technical indications suggest that Solana is preparing to make a robust recovery, provided it holds the $190 support zone.​

Accumulation of liquidity is seen in the range of 178 to 182, which demonstrates the active defense of this level by buyers. 

Short-term resistance appears around the 200–205 range, but a break above 200 would signal a rise to 240 and even 300 by December. Analysts describe this recent price movement as a consolidation that sets the stage for a new upward wave.

Solana ETFs Fuel the Rally

The mainstream acceptance is evident in the surging institutional interest in Solana. New ETFs like the Bitwise $BSOL have had more than 130 million inflows in a short time since their inception, and Grayscale has added several million dollars with their ETF, the $GSOL. 

In total, Solana ETFs had recorded the fourth consecutive day of robust inflows with almost $200 million total inflows, a pattern that is indicative of capital rotation by Bitcoin and Ethereum funds towards Solana.​

This institutional capital inflow increases the market base of Solana and provides the cryptocurrency with new impetus to overcome higher price levels. 

Analysts view these ETF inflows as a major booster towards the projected rebound of $240 and above, with further martialization of Solana and better network stability.​

The support of Solana at $190 is essential to its bullish trend. If this level holds, the likelihood of additional gains of $240 and possibly even $300 increases.

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