Solana Price Might Have Bottomed At $130: Data

Solana's price may have established a bottom at $130 according to charts and onchain data, suggesting a potential recovery to $250. The price action since November 11 has formed a V-shaped recovery pattern following a dip from $173, with upward momentum indicated by an RSI increase from 28 to 50. Previous rebounds from the $130 level led to significant rallies of 108% and 98%, hinting at a possible similar scenario. Additional analysis shows a rise in futures open interest by 5%, signaling renewed demand. Institutional interest is also evident, with Solana ETFs experiencing $390 million in cumulative inflows over 15 days. Strengthening onchain metrics, including an 18% increase in daily active addresses, further support SOL’s potential for recovery. Overall, traders are optimistic about a possible rise back to the $200 range if current trends continue.

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