Solana Spot exchange-traded funds (ETFs) (SOL) posted their strongest weekly performance since February, attracting $39.23 million in total net flows. The increase in capital inflows coincided with a $1.5 billion jump in open interest on SOL futures contracts in May, signaling a sharp increase in traders’ positioning in derivatives markets.
The increase in market activity comes alongside Solana’s 15% rally to $97 over the past seven days, with traders targeting the next major resistance level at $120.
Demand for SOL ETFs Rises with Futures Interest
Bitwise’s BSOL ETF led the latest wave of inflows with $36 million in weekly net inflows last weekwhile Fidelity’s FSOL added more than $1.8 million. Since its launch, BSOL has attracted $861 million, representing almost 81% of the cumulative inflows across all SOL spot ETFs, which now total around $1.06 billion.
Net flows of spot SOL ETFs. Source: SoSoValue
Futures trading activity has increased along with demand for ETFs. Solana Open Interest (OI) climbed to $6.4 billion from $4.94 billion on May 1, an increase of 29.5% in less than two weeks.
Cumulative spot volume delta (CVD), which measures the net difference between buy and sell orders in the market, soared from $163 million to nearly $250 million in five days during SOL’s push toward $96.
The CVD of futures contracts expanded to around $593.6 million after rising steadily from May 5 as buyers absorbed sell-side liquidity in the spot and futures markets.
SOL price, aggregate open interest, spot and forward CVD and funding rate. Source: velo.chart
The funding rate held near 0.065%, indicating that traders continued to pay to maintain long exposure. Buying activity has started to stabilize around the $95-$96 range as the spot and volume deltas have cooled over the past 24 hours.
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Solana Eyes a Breakthrough: Will $120 Be Next?
Solana forms an Adam and Eve pattern near the $95 resistance level, with the neckline of the pattern directly at the current breakout zone. A confirmed move above this level places the technical target near $120.
An Adam and Eve pattern on the high time frame chart could signal a bottom for SOL if price manages to turn the $95 resistance level into support.
SOL/USDT, one day chart. Source: Cointelegraph/TradingView
SOL also broke above its 100-day exponential moving average for the first time since October 2025, adding another technical shift to the mix alongside ETF inflows and growing futures positioning.
A confirmed daily close and consolidation above $95 could pave the way towards the model’s projected target near $120, due to a lack of resistance between the two levels following February’s 42% decline.
BATMAN crypto analyst note that Solana recently broke out of a 231-day downtrend on the SOL/BTC daily chart, signaling an improvement in relative strength against Bitcoin. According to the analyst, the $89-$91 area now acts as the closest support cluster and likely retest region if SOL holds above the breakout zone.
SOL/USDT, chart analysis by BATMAN. Source:
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