Solana steadies above $150 as buyers defend key support amid cautious inflows

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Solana holds above $150

Highlights

- Solana trades near $156 after rebounding from a strong demand zone at $150.

- On-chain data shows modest inflows and signs of early accumulation.

- A close above $165 could confirm a short-term breakout toward $175–$190.

On the daily chart, Solana continues to stabilize after a string of lower highs that have shaped its corrective trend since September. The $150–$154 zone has consistently attracted demand, aligning with the session VWAP at $154.52 and key July support. This base remains crucial for buyers attempting to prevent a deeper retracement.

Solana price dynamics (Source: TradingView)

The Supertrend indicator still sits above current levels near $190.51, showing that the broader trend is yet to turn bullish. However, the formation of a higher low near $150 suggests that downside momentum is weakening. A daily close above $160 could encourage a breakout attempt toward $175–$190, where descending resistance meets the Supertrend ceiling.

If Solana fails to hold above $150, the next supports lie at $135 and $125, both of which have acted as strong accumulation zones in prior cycles.

On-chain data signals improving inflows

Exchange data from Coinglass shows that Solana recorded a net inflow of $12.57 million on November 13 — its first notable inflow in several sessions. This shift follows a prolonged period of outflows and may reflect early repositioning by traders seeking discounted entries.

While the overall flow structure remains mixed, stable prices paired with light inflows propose early accumulation rather than aggressive buying. A consistent continuation of positive flows over the coming days would confirm that sentiment is beginning to recover.

Derivatives traders show renewed participation

In derivatives markets, Solana’s futures volume rose 10.04% to $19.34 billion, highlighting a rebound in trading activity. Open interest fell 3.56% to $7.7 billion, indicating that traders are active but cautious about holding leveraged long positions.

The long-to-short ratio on Binance stands at 4.37, suggesting most retail traders still expect upside continuation. Liquidation data shows that long traders absorbed most of the recent volatility, with $21.85 million in long positions wiped out versus $2.70 million in shorts. This flush of leverage has likely cleared short-term excess and may allow for a steadier advance if buying resumes.

Technical outlook

From a broader perspective, Solana appears to be forming a potential reversal base above $150. The flattening VWAP, minor inflow recovery, and easing open interest suggest the market is stabilizing after weeks of selling. For a confirmed reversal, Solana must close above $165 on strong volume, breaking its descending resistance and converting that level into new support.

In previous analysis, Solana was highlighted as one of the more structurally sound altcoins even during broader market weakness. The defense of the $150 base reinforces that view, showing continued demand from longer-term holders. As the market transitions into late-year consolidation, maintaining this level will be key to determining whether Solana can lead the next leg higher toward $175–$190.

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