Solana ETF inflows show demand returning as traders eye SOL rally to $120

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Spot SOL ETF netflows. Source: SoSoValue Futures activity rose alongside the ETF demand. Solana open interest (OI) climbed to $6.4 billion from $4.94 billion on May 1, marking a 29.5% increase in less than two weeks. Aggregated spot cumulative volume delta (CVD), which measures the net difference between market buy and sell orders, climbed to nearly $250 million from $163 million in five days, during SOL’s push toward $96. The futures CVD expanded to about $593.6 million after rising steadily from May 5 onward, as buyers absorbed sell-side liquidity in both the spot and futures markets. SOL price, aggregated open interest, spot, and futures CVD and funding rate. Source: velo.chart The funding rate held near 0.065%, indicating traders continued to pay to maintain long exposure. The buying activity has started to flatten near the $95-$96 range as spot and volume deltas have cooled over the past 24-hours. Solana is forming an Adam and Eve pattern near the $95 resistance level, with the setup's neckline directly at the current breakout zone. A confirmed move above that level places the technical target near $120. An Adam and Eve pattern on the higher time frame chart could signal a bottom for SOL if price successfully turns the $95 resistance level into support. SOL/USDT, one-day chart. Source: Cointelegraph/TradingView SOL also pushed above its 100-day exponential moving average for the first time since October 2025, adding another technical shift to the mix alongside ETF inflows and rising futures positioning. A confirmed daily close and consolidation above $95 could open the path toward the pattern’s projected target near $120, due to a lack of resistance sitting between the two levels after the 42% dip in February. Crypto analyst BATMAN noted that Solana recently broke above a 231-day downtrend on the SOL/BTC daily chart, signaling improving relative strength against Bitcoin. According to the analyst, the $89-$91 zone now acts as the nearest support cluster and a likely retest region if SOL holds above the breakout area. SOL/USDT, one-chart analysis by BATMAN. Source: X More on the subject

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