Solana (SOL) Price: ETF Amendment Filings Push Token Above $210

SOL closed above its 50-day Exponential Moving Average (EMA) at $208.81 on Sunday, signaling a potential shift in momentum. The Relative Strength Index (RSI) reads 46, pointing upward and approaching the neutral level of 50, indicating fading bearish pressure.

Institutional Demand Grows

Institutional interest has provided substantial support for Solanas price floor. Data shows that REXShares recorded an impressive $16.2 million in inflows in just one day, extending a two-week period of consistent demand.

Reports from Whale Insider revealed that REX-Osprey funds purchased over $10.5 million in SOL. These allocations suggest large investors continue to accumulate the token even during temporary price dips.

Such institutional inflows serve as an anchor for price stability, helping to offset short-term selling pressure. Analysts view this consistent capital flow as reinforcement of SOLs support zone near $200, indicating that real investment rather than speculative activity is driving price action.

Technical Outlook Points Higher

The current technical setup aligns with the positive fundamental narrative. Analysts have identified $230 as the critical resistance level that needs to be cleared for higher targets.

If SOL breaks above this threshold, especially with the catalyst of ETF approvals, price projections point to potential targets between $370 and $400. This outlook is based on consolidation patterns where a series of higher lows meets resistance ceilings.

However, not all analysts share the bullish view. Some technical assessments highlight bearish candlestick formations on the weekly chart. If SOL fails to hold above the $206 level, the token could retreat toward $160, according to these analyses.

The divergence in outlooks underscores the importance of confirmation signals. Without a clear break above resistance or continued institutional support, downside risks remain on the table.

At present, the price sits at a balance point between support and resistance. The chart pattern shows higher lows forming, suggesting underlying strength, but the $230 resistance has held firm so far.

The SOL blockchain is also seeing positive developments that could support long-term growth. Jump‘s Firedancer team has introduced proposal SIMD-0370, aiming to remove Solana’s fixed compute unit block limit after the Alpenglow upgrade.

This change would allow block producers to process more transactions, creating a system where Solanas throughput scales dynamically with validator performance rather than being constrained by fixed limits.

SOL traded at $210 at the time of writing, maintaining its position above the key 50-day EMA. If the $193.52 support level continues to hold, the recovery could extend toward the daily resistance at $230.

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