Key Solana Indicator Flashes Buy Signal; Analysts Eye $120
Solana (SOL) has rebounded alongside the broader crypto market following cooler US inflation data, climbing back toward $80. According to analysts, this could mark the start of a more substantial rally.
Analyst Ali Martinez noted that the Average True Range (ATR) stop has flipped below price, generating the first SuperTrend buy signal on Solana since October 10. He suggested that if buying pressure continues, SOL could surge toward $96 and even $121. Martinez also highlighted the $60 level as key support; a drop below would invalidate the bullish setup.
Michael van de Poppe added that SOL is at a critical juncture. Holding around $77 could trigger a significant upswing, while a drop below $73 might lead to a retest of recent lows.
Bloomberg’s James Seyffart pointed to a regulatory development: Morgan Stanley has filed updated documents to launch a Solana ETF under the ticker MSOL with a 0.14% fee. If approved, it could attract additional investors to Solana’s ecosystem. Morgan Stanley joins other major firms—including Bitwise, Fidelity, Grayscale, VanEck, Franklin Templeton, Invesco, 21Shares, and Canary Capital—that have already filed for Solana ETFs. Cumulative net inflows into spot SOL ETFs have reached nearly $1.15 billion.
Another positive factor is that Solana’s fear, uncertainty, and doubt (FUD) has hit its highest level for 2026, according to some metrics. This extreme negativity often precedes a price reversal, suggesting that the cycle’s bottom may have been formed.