Solana (SOL) has flashed its first bullish technical signal in roughly two months, with the SuperTrend indicator turning bullish on the daily chart on March 13 for the first time since early January. The development has drawn attention from analysts and institutional researchers, even as the broader weekly technical picture remains firmly bearish.
Technical signals present a mixed picture. Analyst Ali Martinez flagged the bullish flip, which suggests potential short-term momentum. However, the broader weekly chart on TradingView shows 15 of 17 indicators signaling a sell, with every major moving average—including the EMA10 at $98.47 and the SMA200 at $103.70—sitting above SOL's current price. Analysts note that for a structural shift, SOL would need to reclaim the SMA200 at $103.70 as a minimum.
Grayscale's head of research, Zach Pandl, published a six-point investment case for SOL on the same day, pointing to the asset's roughly 67% drawdown from its September 2025 peak above $240 as a potential entry point. Pandl cited Solana's lead in users, transactions, and fees across smart contract platforms over the past year, as well as regulatory progress around stablecoins and tokenized assets as potential tailwinds.
Solana Spot ETF flows show slowing momentum. Cumulative net inflows across listed products have reached between $961 and $968 million, with total net assets around $824–$855 million. However, weekly ETF inflows have dropped sharply, with total inflows for the current week at $3.10 million—down 83% from the prior week.
Separate chart analysis projects a longer-term path for SOL, outlining a potential multi-stage recovery that could eventually target the $360 area by the first quarter of 2027, contingent on a breakout from the current descending channel. SOL is currently trading around $88.95, up 2.8% in the past 24 hours, with a total market cap of approximately $54.74 billion.
