Solana price tests weekly floor as traders eye close above resistance

Solana retested a long-running weekly support trendline dating to 2023 while momentum and flow indicators improved, based on recent chart readings.

Between mid-November and early December, price made a lower low as the Relative Strength Index set a higher low, a bullish divergence used to gauge fading downside pressure. The Chaikin Money Flow has moved higher in recent sessions and is nearing its trendline. A move above that line would indicate stronger buying pressure, according to technicians.

Chart watchers note the current test of the weekly support area that has produced rebounds since 2023. The level’s record on the weekly timeframe has made it a reference point for traders assessing whether it holds or breaks.

Spot Solana exchange-traded funds have recorded net inflows for several weeks, with a small dip in early December. Cumulative inflows remain sizable, and market participants cite this demand as helping absorb circulating supply.

Network activity has increased. Recent developments include Kalshi prediction markets moving to tokenize on Solana and growing interest in meme tokens such as Pippin, which is often linked to retail participation.

For confirmation of a recovery, technicians are tracking a resistance area that has capped rallies since late November. The last daily close above that band occurred earlier this month, based on chart data. A confirmed break and close above resistance could open a path to prior areas where advances stalled. A close below nearby support would invalidate the bullish RSI and CMF setup and put the longer-term weekly trendline at risk.

Traders are watching price behavior around the support and the noted resistance band for confirmation.

As GNcrypto covered previously, CoinShares withdrew its SEC registration for a staked Solana ETF before launch, saying the structuring deal and asset purchase were not completed and no shares were sold. The firm also pulled planned U.S. ETFs tied to XRP and Litecoin and is winding down a bitcoin futures leveraged ETF while shifting its U.S. lineup. Other issuers launched Solana funds with steady inflows, and corporate treasuries hold more than 16 million SOL after 2025 accumulation. Solana’s price has traded in a $130-$140 range with neutral signals, while CoinShares continues to run a Solana staking ETP in Europe.