Solana (SOL) is nearing a critical resistance level at $95, trading at approximately $91.70, up 3% in the last 24 hours and 6% over the past week. Despite this, SOL remains 11% lower over the past month and nearly 70% below its January 2025 all-time high of $293.31. Derivatives activity shows mixed signals, with trading volume down 3% to $16.4 billion, while open interest has increased by 2% to $5.37 billion. Notably, Solana ETF inflows reached $19.06 million on March 4, indicating institutional accumulation as the price nears this pivotal level.
The $95 mark is significant due to its alignment with the 38.2% to 50% Fibonacci retracement from the $120 high to the $80 low, often acting as a major resistance during recovery rallies. A successful breach could see SOL targeting $105 to $110, while failure to hold could shift focus back to $85. In the broader context, Solana's network is gaining traction in stablecoins and real-world asset tokenization, with companies like Franklin Templeton and BlackRock utilizing its capabilities.
Solana Approaches Key $95 Resistance Amid Institutional Interest
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