TLDR

  • Solana’s SuperTrend indicator turned bullish on March 13, marking its first such signal since early January.
  • SOL has experienced a decline of approximately 67% from its September 2025 peak, with its price currently hovering between $88 and $89.
  • Weekly technical analysis continues to show bearish sentiment, as 15 out of 17 indicators suggest a sell.
  • Grayscale’s head of research identified SOL as a potential buying opportunity given its current discounted price.
  • Cumulative inflows into Solana Spot ETFs have reached between $961 million and $968 million, though weekly inflows have seen a significant slowdown.

Solana (SOL) has displayed its initial bullish technical signal in approximately two months, despite the overall chart still indicating a strong bearish trend. This development has captured the interest of both analysts and institutional researchers.

Solana (SOL) Price
Solana (SOL) Price

Following a peak exceeding $240 in late 2025, SOL began a prolonged and challenging downturn. The asset breached significant support levels sequentially, ultimately establishing a base within the $67–$80 range in early 2026.

For the last four weeks, Solana has traded within a band of $76 to $90. It briefly surpassed $90 on two occasions in March, with the most recent instance aligning with the SuperTrend buy signal on the daily chart.

What the SuperTrend Signal Means

The SuperTrend indicator serves as a technical instrument that monitors market trend direction by utilizing price and volatility information. Analyst Ali Martinez highlighted this bullish shift on March 13 through X.

This marks the indicator’s first bullish reading since early January. A sell signal had previously emerged in early February, coinciding with SOL’s decline to $67.

While the signal suggests potential short-term momentum, it does not validate a prolonged recovery. The indicator is capable of generating false signals, and the wider technical landscape adds complexity to the situation.

Looking at the weekly chart, TradingView’s summary indicates 15 indicators signaling a sell and only 2 suggesting a buy. All significant moving averages are positioned above the current price. The EMA10 stands at $98.47, the SMA200 at $103.70, and the EMA200 at $119.62 — each pointing to a sell.

The RSI is currently at 32.34, nearing but not yet confirming an oversold condition. The MACD shows a negative value of -23.70.

Analysts suggest that for a fundamental shift, SOL would need to regain the SMA200 level of $103.70 at a minimum.

Grayscale and Institutional Interest

On March 13, Zach Pandl, Grayscale’s Head of Research, released a six-point investment thesis for SOL, highlighting the approximately 67% decline from its September 2025 highs as a possible entry opportunity.

Pandl referenced Solana’s leadership in users, transactions, and fees among smart contract platforms over the last year. He also mentioned regulatory advancements concerning stablecoins and tokenized assets as a potential positive factor.

Daily inflows into Solana Spot ETFs on March 13 amounted to $7.60 million, exclusively from Bitwise’s BSOL. Cumulative net inflows across all listed products currently range from $961 million to $968 million, with total net assets estimated between $824 million and $855 million.

However, weekly ETF inflows have experienced a significant decrease. Total inflows for the present week reached $3.10 million — an 83% reduction from the previous week.

SOL is presently trading at approximately $88.95, showing an increase of 2.8% over the last 24 hours and 11.15% over 30 days. The asset’s total market capitalization is around $54.74 billion, positioning it as the seventh-largest cryptocurrency.