SOL Stays Strong Near $77 as Institutional Interest Grows

Solana is holding steady at $77, marking a weekly gain of over 2 percent. The price action shows resilience as the asset stays above key support levels. Traders are watching closely to see if the coin can maintain this momentum and push toward higher targets.

Institutional interest is providing a notable boost. Spot Solana ETFs saw $5.83 million in net inflows this week, which represents the strongest day of institutional buying since early July. This two day streak of inflows suggests that professional investors are regaining confidence in the asset.

Optimism is also building in the derivatives market. The long to short ratio for Solana has climbed to 1.12, which is the highest level in over a month. This shift shows that traders are actively positioning for potential price increases in the coming days.

Technically, Solana is currently sitting above its 50 day moving average. The next major test for buyers is the $80 price point. If the market can push above this resistance, it may clear a path toward higher Fibonacci levels. However, support remains critical at $77, and a drop below this could bring lower levels back into play.