- Spot Solana ETFs saw net inflows of $39.23 million, marking the strongest weekly flow since February and helping drive an roughly 15%% price gain.
- Since the start of May, Solana futures open interest (OI) has expanded to about $6.4 billion, while spot and futures CVD and a 0.06%% funding rate point to buyer dominance.
- Cointelegraph identified the $95 level and a break above the 100-day exponential moving average (EMA) as key turning points, with $120 presented as the next price target.
Forecast Trend Report by Period
Solana is gaining momentum as inflows into spot exchange-traded funds spur broader buying across both spot and futures markets.
Cointelegraph reported on May 11 that spot Solana ETFs drew net inflows of $39.23 million last week, the strongest weekly showing since February. Over the same period, Solana rose about 15% to the $97 level.
The buying tied to ETF inflows is spreading across derivatives and spot markets. Since the start of May, Solana futures open interest has increased by about $1.5 billion to roughly $6.4 billion, signaling a rapid buildup in new positions.
Buying has also taken the lead in the spot market. Cumulative volume delta, or CVD, climbed from about $163 million to roughly $250 million over five days, indicating stronger market-buying demand. In futures, CVD rose to about $593.6 million, showing buyers continued to absorb sell orders. Funding rates also held near 0.06%, pointing to sustained demand for long positions.
Cointelegraph identified the $95 area as a key inflection point on technical charts. A break above that resistance would put the next target at $120. Solana also moved above its 100-day exponential moving average, or EMA, for the first time since October 2025, adding to signs of a trend reversal.
Still, buying has shown some signs of slowing in the $95 to $96 range in the near term. Whether Solana can hold above that band may determine if the rally extends further.
