Solana (SOL) is trading sideways in a tight range while analysts monitor key levels that could provide direction to the next trend. Analyst Umair Crypto highlighted that Solana needs to hold up above the BTC 200 SMA and also move back above $85. However, the price will remain range-bound between $77 and $90 without direction.
There is also a strong contrast between the two charts, the USDT pair, and the BTC pair. On the USDT pair, there have been lower highs, which is a sign of poor price structure.
On the BTC pair, there have been higher highs, which is a sign of good price structure. This contrast has been going on for 24 days without a break.
Key Levels Decide Solana’s Next Move
According to Umair, the price of Solana on the BTC pair has recently broken through the 4H 200 SMA and also broken through the range. He warned that a similar reclaim failed earlier, sending SOL back under the level. A clean retest is required before any valid breakout call.
However, if the range holds along with the 200 SMA, the potential for the USDT pair could increase. The POC nears $85 and becomes the target. Reclaiming this price confirms the range breakout possibility.
Source: X
However, if the BTC pair loses structure again, the rotation could continue, keeping the price range-bound.
SOL ETF Inflows Rise Despite Broader Outflows
According to SoSoValue data, the Solana ETFs saw weekly net inflows, while the Bitcoin and Ethereum ETFs saw outflows. The inflows for the week ending February 20 came out to $14.31 million, while the following week saw inflows rise to $43.13 million.
Cumulative ETF inflows have surpassed $900 million so far this year. February also saw more than 12 straight days of net inflows. The steady flow indicates persistent demand despite uneven market structure.
Source: SoSoValue
Also Read: Solana (SOL) Price Holds Steady Near $84 As $90 Resistance Threatens Strong Rally
Volume Falls as RSI and MACD Signal Mixed Conditions
CoinGlass data shows that the trading volume has decreased by 5.77% to $12.20 billion. The open interest has also declined by 3.73%, amounting to $4.88 billion. The OI Weighted Funding Rate is at 0.0041%, indicating a slightly positive bias among the leveraged traders.
Source: CoinGlass
The Relative Strength Index (RSI) current reading is at 43.10. The signal line is at 38.18. The RSI does not show any extreme conditions. It shows that the momentum is neutral with no confirmed shift.
The Moving Average Convergence Divergence (MACD) has a value of 1.64 on the histogram. The MACD line is at -4.93, and the signal line has a value of -6.57. The MACD indicates weakening bearish momentum without a bullish crossover.
Source: TradingView
Also Read: Can Aster Surpass $1.22? Traders Monitor Critical $0.824 Resistance Zone
