Solana (SOL) Price: Bullish Momentum Builds as ETF Inflows Return and On-Chain Activity Hits New Highs

TLDR

• SOL trades at $73.74 after three consecutive green days and an 11% gain in three days
• Spot Solana ETFs recorded $2.81 million in net inflows on Monday, reversing last week’s outflows
• The SOL/BTC ratio is trending higher, with the strongest weekly close since early May
• SpaceX’s tokenized stock (SPCX) on Solana surpassed $50 million in on-chain volume within 24 hours
• Solana’s RWA ecosystem crossed $3 billion in total value for the first time

Solana has posted three straight days of gains, pushing SOL to $73.74 as of Tuesday. The move follows a rough stretch that saw the token trading well below its key moving averages.

The latest bounce is up roughly 11% over three days. That said, SOL still sits beneath the 50-day EMA at $78.13, the 100-day EMA at $85.11, and the 200-day EMA at $101.67.

Spot Solana ETFs recorded net inflows of $2.81 million on Monday, according to SoSoValue data. That reverses last week’s net outflows of $2.58 million, pointing to a return of institutional interest.

Analyst Ritika Gupta flagged the SOL/BTC ratio as a key signal to watch. She noted the pair posted its strongest weekly close since early May, suggesting Solana may be starting to outperform Bitcoin as capital rotates further out the risk curve.

Derivatives Data Shows Caution

Not all signals are bullish. CoinGlass data shows SOL’s long-to-short ratio at 0.96 on Tuesday, below the neutral level of 1.0, indicating more traders are positioned for a price decline than a rise.

Funding rates have also turned negative at -0.001%, meaning shorts are paying longs. This typically reflects bearish sentiment in the futures market.

The RSI is hovering near 49, close to neutral. The MACD has turned positive, but analysts describe the current move as corrective rather than the start of a new trend.

On-Chain Activity Supports the Rally

On-chain data adds weight to the recent price move. Solana’s real-world asset (RWA) ecosystem crossed $3 billion in total value, a new all-time high for the network.

SpaceX’s tokenized equity, xStock (SPCX), became the most-traded tokenized stock on Solana. It was launched by Backpack Securities on the same day SpaceX shares went live in traditional markets and crossed $50 million in on-chain volume within its first 24 hours.

Alatau City in Kazakhstan also signed a memorandum of cooperation with the Solana Foundation this week.

While the ETH/BTC ratio is on track for its tenth consecutive weekly decline, SOL/BTC is moving in the opposite direction. That divergence places Solana in an unusual position among major altcoins.

CryptoQuant summary data shows large whale orders in SOL’s spot and futures markets, with other metrics holding neutral.

The key support level to watch sits at $60.13. A break below that level would open the door to further downside and negate the current recovery attempt.

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