SOL at 139.84 USD breaks through a key resistance: is this the start of a rally to 250 USD?

Key Observations:

• Solana broke support at the $130 level, and the current price at $139.84 suggests increased buying pressure in the market.
• Futures open interest rose to $7.3 billion, while net flows in the spot market improved, indicating a renewed investor interest.
• An inflow of $390 million into Solana spot ETFs and upcoming new fund launches further support institutional demand for SOL.

Technical Price Analysis of SOL Confirming the Bullish Scenario

Since November 11, Solana has exhibited a characteristic V-shaped rebound on the four-hour chart. After a sharp 25% decline from $173, buyers resumed activity, leading to a return of the price to near $140.

The Relative Strength Index (RSI) has crossed above the 50 level, rising from the 28 zone, confirming increasing buying pressure. Considering the structure of this rebound, SOL could continue upward toward the neckline of the formation, located near $170 – approximately a 22% increase from current levels.

On the weekly chart, the situation appears even more promising. The $130 level remains a key support for the SOL/USD pair. Historically, rebounds from this zone have led to significant price rallies. Between September and November 2024, there was a 108% increase to $265, and from June to September 2025, a 98% rise to $250. If this pattern repeats, SOL could ultimately reach $250, representing an 80% increase from current levels.

The RSI on lower timeframes recently entered oversold zones – a historical precursor to decisive price reversals. As previously reported by Cointelegraph, if the 20-day EMA at $160 is reclaimed, SOL could rise toward the $180–$200 range.

Futures and Spot Markets Show Synchronization of Demand

CoinGlass data reveal that Solana’s open futures positions increased by 5% over the past day, reaching $7.3 billion. The eight-hour perpetual contract funding rates improved, rising to 0.0059% from the previous -0.0001%.

This increase in open interest and funding rates confirms the return of buyers to the SOL futures market. If the number of long positions becomes too large upon a catalyst, a strong short squeeze could occur.

At the same time, the spot market shows a shift to positive net buying volume, indicating capital inflows at lower price levels. The growth of the aggregated CVD from both spot and futures markets confirms a healthy rebound structure driven by interest from both segments.

Institutional Players Increase Bets on Solana

Solana spot ETFs continue attracting institutional capital for the fifteenth consecutive day, demonstrating consistent interest in the network token. On Monday, US-based SOL ETFs recorded an inflow of $8.26 million, bringing total inflows to $390 million. Total net assets under management have already exceeded $513 million, according to SoSoValue data.

The new Solana ETF from VanEck launched on Monday is just the beginning – additional funds are expected to appear in the coming week, further strengthening SOL’s position in the capital markets.

On-chain indicators confirm this positive momentum. Over the past 30 days, the number of active daily addresses increased by 18%, while daily transaction counts improved by 9.1%. Strong network metrics and Solana’s dominant position in DApp revenue suggest long-term growth potential for the ecosystem and its native token.