Solana broke through $103, whale holdings and ETF inflows boosted price rebound

Solana broke through US$103, boosted by whale holdings and ETF inflows.

Solana (SOL)'s recent strong performance has attracted widespread market attention. The current SOL trading price is firmly above US$103, showing new momentum driven by increased accumulation by large holders, a significant decline in exchange balances, and continued inflows of cash into spot ETFs. These factors are consolidating the platform's bullish market structure and stimulating speculation on further upside potential.

The rally builds on key support and technical signals

Solana's current price is US$103.81, up 3.19% in the past 24 hours. Daily trading volume reached US$7.29 billion, and the project market value was US$61.04 billion. Analyst Ali Martinez pointed out that the US$100 -103 range is a key support area for SOL, and this judgment is based on technical and on-chain data. He noted that if Solana could build on that range, moving towards the $150 goal would become feasible.

Ali Martinez said: "It's all about $100. From a chain and technical perspective, this is the strongest support level for $SOL. Hold this level and $150 will become the next major target."

The rally is closely related to the realized price distribution of unspent trading output (UTRPD) indicator, which depicts the area where significant trading activity occurs. In Solana's case, approximately 39 million SOL changed hands within a price range of approximately $103.25, further reinforcing the importance of this threshold as a key point for the current recovery. A breakthrough of $103 means that SOL has moved beyond the high-volume trading area and market sentiment has shifted in favor of buyers. Market observers are now closely watching whether $103 can become a reliable support level in the future.

However, several resistance levels still need to be overcome to achieve further gains. Current analysis highlights obstacles at $123 and $132, where a large number of positions are concentrated. Overcoming these hurdles is critical for Solana's next goal of approaching $150.

On-chain data shows a continuous accumulation trend

Another bullish factor comes from on-chain data, which shows that the number of wallets holding more than 10,000 SOLs is increasing by 1.58% per week. This trend indicates that large investors (often referred to as "whales") continue to accumulate assets. At the same time, total SOL supply on centralized exchanges declined by 4.91%, indicating that holders are moving assets to wallets, pledging or investing in decentralized apps (dApps).

A decrease in exchange supply usually means less selling pressure, which may set the stage for further price increases. However, reduced liquidity may also lead to more violent fluctuations as trading accelerates. Solana is a blockchain platform specifically designed for high-speed decentralized applications and cryptographic assets, known for its ever-evolving ecosystem of rapid transaction processing capabilities.

Noun explanation: UTXO realizable price distribution (UTRPD) is a measure that displays the distribution based on the price of the last time a token was moved, helping analysts identify areas where trader activity is concentrated and potential support or resistance levels on the price chart.

Technical indicators show a neutral multiple trend

Solana's technical analysis further supports the optimistic outlook. The Relative Strength Index (RSI) is around 59.25, placing the asset in a neutral to moderately bullish region, indicating that it is not currently overbought. At the same time, the MACD histogram is located at 5.56 above the zero axis. This positive signal indicates that the upward momentum is stronger than the downward trend, adding more impetus to the rebound.

The most critical issue in the short term is whether SOL can maintain support above the $100 -103 range. Holding this area could push it to try to challenge the resistance levels of $123 and $132. Once these positions are exceeded, it will open the door for a possible move towards $150.

Market participants continue to pay close attention to possible catalysts such as whale activity, ETF capital inflows and supply trends. However, analysts warned that any fall below $100 would endanger the current bullish structure and momentum.