Solana Price Prediction. Buyers Defend $150 As Network Activity Surges And Outflows Ease
Solana's price climbed 3.4% to $159.7, recovering from its $150 support level amidst improving market dynamics. Founder Anatoly Yakovenko highlighted Solana's superior transaction throughput compared to Ethereum, emphasizing its scalability. Despite ongoing macroeconomic uncertainty, selling pressure on Solana eased with reduced net outflows, though consistent inflows are yet to return. Technical indicators suggest stabilization, with a potential recovery toward $190–$200 if it breaks key resistance levels. However, failure to hold above $148 could lead to further declines toward $135. Investor sentiment remains cautious, influenced by U.S. monetary policy expectations.
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Solana Price Overview: Key Movement and Market Conditions
Solana price today trades near $159.7, up 3.4% in the past 24 hours, as buyers defend key support around $150 while network momentum strengthens. The bounce follows renewed bullish commentary from Solana’s founder and minor improvement in market flows despite persistent macro uncertainty.
Founder Highlights Network Dominance
Founder’s Comment Reinforces Network Dominance
“In a single month, Solana does as many transactions as Ethereum does in its lifetime,” remarked Anatoly Yakovenko, Solana Labs co-founder, as shared on X (formerly Twitter). This statement highlights Solana’s expanding throughput advantage and reignites the debate over blockchain scalability. Despite these optimistic comments, investor caution persists, as the broader crypto risk sentiment remains tied to U.S. monetary policy developments.
Outflows Moderate: Signs of Seller Fatigue
Spot Outflows Ease After Weeks of Selling
According to Coinglass, Solana recorded $24.6 million in net outflows on November 12, marking the smallest single-day outflow in over two weeks. This moderation hints that selling pressure might be easing, although consistent inflows have not yet returned.
Historical data indicates cumulative outflows since late October, correlating with price weakness. However, the slowdown in outflows suggests that sellers are losing momentum, particularly near the critical $150–$155 range, which has consistently acted as a structural support since June.
Technical Analysis: Attempt at Recovery
Technical Setup: Solana Attempts Recovery From Support Zone
On the daily chart, Solana remains within a descending channel since the September peak near $275. Recently, price rebounded from the horizontal support between $148 and $152, where historical consolidations have triggered strong upward reversals.
The Parabolic SAR has flipped below the price at $172.4, signaling early bullish trends. Immediate resistance levels are at the 20-day EMA ($172.4) and 50-day EMA ($186.8). A close above the 20-EMA could attract technical buyers aiming for $190–$200, aligning with the 100-day EMA.
Market Momentum Indicators
Momentum indicators show stabilization rather than a full recovery. The RSI has turned upward from neutral zones, signaling renewed buyer interest without overbought pressure. Sustaining closes above $160 would validate a short-term sentiment reversal and could signal a shift in market dynamics towards bullish territory.
Near-Term Outlook for Solana
Solana’s near-term price outlook hinges on its performance around the pivotal $150–$160 range.
Bullish case: A strong daily close above $172 supported by improving flows could propel the price toward $190–$200, breaking out of its downtrend.
Bearish case: Breaching the $148 level could confirm a new lower low, exposing $138–$135 as the next demand zone.