TLDR
- US-based Solana spot ETFs have achieved 11 uninterrupted days of positive net inflows, with $10.9M recorded on September 1
- Cumulative ETF net inflows have surged to $1.35 billion, while total assets under management reach $1.39 billion
- Derivatives trading volume for SOL increased 22% to $9.43 billion, though open interest saw a marginal decline
- SOL maintains position above critical $95 support zone with potential breakout levels identified at $110 and $120
- Technical analyst Wealthmanager projects long-term price objective of $250 contingent on support level maintenance
Solana (SOL) is currently changing hands near $99 following a modest correction of approximately 3% over the last 24-hour period. However, this short-term retracement hasn’t diminished the impressive 35% gain SOL has registered across the previous two weeks.
The cryptocurrency dipped to $99.35 but managed to defend the psychologically significant $100 threshold throughout most of the trading session. Trading activity has been contained within a range of $97.38 to $100.71.
Solana ETFs in the US Achieve 11-Day Consecutive Inflow Streak
Exchange-traded funds tracking Solana spot price in the United States have now registered positive net inflows for an unbroken sequence of 11 trading days. September 1 witnessed daily net inflows of $10.19 million, while the prior session contributed $10.9 million.
Aggregate net inflows spanning all available products have climbed to $1.35 billion. Total assets under management across these instruments stood at $1.39 billion, accompanied by $68.55 million in daily trading volume.
Bitwise dominated daily capital attraction with $6.17 million in new inflows, while Fidelity captured $2.67 million. Morgan Stanley contributed $1.36 million to the total, whereas other registered funds reported zero new capital influx for the period.
Bitwise maintains the commanding position among providers, managing $949.83 million in assets with cumulative lifetime inflows reaching $1.03 billion. This sustained streak demonstrates consistent institutional appetite even amid temporary price volatility.
Cryptocurrency market analyst Ali Charts shared insights on X, urging his audience to abandon bearish positioning on Solana. He emphasized that the technical configuration is shifting toward bullish territory and suggested securing positions ahead of the next significant price movement for $SOL.
Solana Derivatives Market Displays Heightened Trading Activity
Trading volume in Solana derivatives contracts expanded 22% to reach $9.43 billion, indicating elevated trader engagement. Conversely, open interest contracted 1.40% to $6.47 billion, implying that certain leveraged positions underwent liquidation or closure.
Options contract volume surged 19.30% to $15.18 million. Open interest in options contracts experienced a modest 2% increase to $135.98 million.
The Relative Strength Index currently registers at 62.15, having retreated from previously overbought conditions. The Chaikin Money Flow indicator reads 0.25, signaling continued capital accumulation within SOL.
Solana continues defending the $95 support threshold, which market analysts identify as essential for preserving the current recovery trajectory. A confirmed daily close above $100 would establish a pathway toward the $110 resistance zone.
Successfully breaching $110 with substantial volume could trigger further upside momentum toward the $120 level. Market analyst Wealthmanager identified $250 as a viable long-term objective should SOL successfully validate its previous resistance area as new support following a breakout from the macro downtrend pattern.
On the bearish scenario, failure to hold $95 would expose SOL to downside pressure toward the $90 level. A decisive breakdown below $90 would redirect market attention toward the $80 support zone.
The latest ETF statistics confirmed $10.9 million in net inflows on September 2, extending the remarkable 11-day positive streak.
