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- Solana Price Expectations: Closing above the main resistance level:
The Solana price broke above the upper trendline of the descending wedge pattern ( which was formed by connecting multiple peaks and troughs since early October ) on December 26, and experienced a slight increase, but was unable to close above the weekly resistance level at $126.65 by the end of December. On Thursday, Solana's price rose by 2% and closed above this resistance level; by Friday, it remains above $126.86.
If the weekly support level of $126.65 holds, the SOL price could extend its rise toward the next daily resistance level at $160.
The daily Relative Strength Index (RSI) on the chart is at 47, trending upward toward the neutral level at 50, indicating a slowdown in bearish momentum. To ensure continued bullish momentum, the RSI must move above the neutral level. Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, which remains valid, supporting a positive outlook.
Daily chart of the SOL/USDT pair
On the other hand, if the SOL price fails to find support at $126.65, the decline could extend toward its lowest level on December 18 at $116.88.
According to capital markets data, the risk-weighted asset system (RWA) affiliated with Solana reached a new record level of $873 million on Thursday. This increase indicates growing institutional adoption of this system and enhanced confidence in its real asset infrastructure.
Additionally, institutional demand for Solana shares has continued to grow since its launch on October 28. Data from SoSoValue shows that spot ETF funds for Solana shares recorded net inflows of $10.43 million this week, reinforcing the steady weekly inflow trend since its October launch. Moreover, the total net assets reached $950.82 million by Thursday, suggesting that institutions are accumulating Solana shares during consolidation periods rather than reducing their exposure.
Total net inflows into the SOL spot ETF funds (Source: SoSoValue