Institutional ETF Inflows Confirm Solana's Accumulation Rectangle

A daily close above $92.88 would move the price of Solana toward the 100MA at $97.34. This resistance level is the ceiling of an accumulation rectangle that has been tested five times since February. The price has moved sideways between $77 and $77.88 from mid-February through March, following a 70% drop from September 2024 highs to $77 lows in February. During this period of consolidation, institutional inflows into SOL spot ETFs recorded six consecutive weeks of buying, with $13.17M, $14.31M, $14.44M, $21.10M, and $10.70M inflows. The largest single-week inflow of $44.44M occurred the week of February 27. Institutional buying occurred while the price remained in the rectangle. The 50MA is now crossing above the 100MA. A daily close above $97.34 would move the price toward $117. A break below $77 would invalidate the accumulation thesis and lead to further downside.