Solana Price Rallies Amid Record Bitwise ETF Inflow: Aiming for $150?
Solana Price Surge Amidst Bitwise ETF Inflow
Solana experienced a notable 5% increase in its price on Tuesday, November 25, reaching $135, following a period of bearish trends. The cryptocurrency's 24-hour trading volume rose by 17%, hitting $5.18 billion. This uptick coincides with a $39.5 million inflow into the Bitwise ETF, suggesting a renewed interest in Solana, which analysts predict could target $150. In parallel, the overall crypto market saw a 0.68% increase, with BTC, Ether, XRP, and Dogecoin also recording minor gains.
Bitwise ETF Records Unprecedented Inflow
The Bitwise SOL ETF marked a significant milestone with a $39.5 million inflow on November 24, reflecting increased institutional interest. Since its inception in late October, the U.S. Solana ETFs have accumulated $568 million in total inflows, maintaining a positive trajectory amidst broader market outflows.
Franklin Templeton Expands Crypto ETF Offerings
Franklin Templeton's Crypto Index ETF plans to enhance its portfolio starting December 1, 2025, by including XRP, Solana, Dogecoin, Cardano, Stellar, and Chainlink, alongside Bitcoin and Ethereum. This expansion aims to provide investors with greater diversification in key cryptocurrencies, as confirmed by a recent SEC filing.
Is Solana Poised for a Breakout to $150?
Currently priced at $136, Solana shows a promising upward trend, staying above the $130 mark. After consolidating between $130 and $140, Solana is testing the $140 resistance level. A breakthrough here could set the stage for a climb toward $150, indicating potential bullish momentum. Technical indicators support a conservative bullish outlook, with the MACD above the horizontal line at 1.03, suggesting further upward potential. A dip below $140 could, however, push prices toward $130.
The Chaikin Money Flow (CMF) indicator reads 0.14, indicating a positive cash flow, aligning with the current buying sentiment. Continued upward movement could further solidify Solana's position in the market.