Solana exchange-traded funds (ETFs) focused on spot SOL recorded their most robust weekly inflows since February, pulling in over $39 million in net capital. This influx coincided with a sharp rise in Solana futures open interest, signaling renewed trader confidence and increased positioning across both spot and derivatives markets.

Leading the inflows, Bitwise’s BSOL ETF drew approximately $36 million last week, maintaining its dominant position with cumulative inflows nearing $861 million. Fidelity’s FSOL ETF also contributed nearly $2 million during the same period. The combined assets under management for all spot SOL ETFs now stand around $1.06 billion.

Concurrently, futures open interest climbed significantly, rising from $4.94 billion at the start of May to $6.4 billion in under two weeks—a nearly 30% gain. This increase reflected heightened buying pressure as the cumulative volume delta (CVD)—a metric assessing net market buy versus sell orders—grew notably both in spot and futures markets. The spot CVD surged to almost $250 million amid SOL’s push toward $96, while the futures CVD expanded past $590 million as buyers absorbed sell-side liquidity.

The funding rate on Solana futures hovered around 0.065%, indicating sustained demand for maintaining long positions. However, recent price momentum showed signs of cooling near the $95-$96 resistance range, with spot volumes and buy-sell deltas leveling off.

Technically, Solana approaches a critical breakout. It is currently forming an Adam and Eve bullish pattern close to the $95 resistance, with the neckline aligned at the current price zone. A confirmed breakout and daily close above this level could trigger a run toward the next significant resistance near $120. This target becomes plausible given the absence of notable resistance between $95 and $120 following a substantial earlier dip.

Adding to the bullish outlook, SOL recently surpassed its 100-day exponential moving average for the first time in several months. This technical shift complements the inflow surge and futures activity, reinforcing the momentum behind the rally.

Moreover, analyst observations highlight that Solana broke above a long-term downtrend in its pairing with Bitcoin, indicating improving strength relative to BTC. The $89-$91 price area is now considered key support and a likely zone for retesting if the current gains hold.