Solana: Still Far Away from Confirming Bull Market - In this video I break down the current short term price action for Solana to determine if the recent move is a genuine reversal or a bear market trap. I analyze the ongoing three wave structure and identify the critical support levels that must hold to keep any bullish scenario alive. Video by More Crypto Online.
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Solana (SOL) is trading at approximately $97.24, experiencing a small 24-hour pullback of roughly 4.4% after a powerful rally that pushed it past the $100 psychological threshold earlier this week. Despite today's minor profit-taking, SOL maintains an impressive weekly gain of over 26%.
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-Record-Breaking ETF Inflows: U.S. spot Solana ETFs extended their net inflow streak to a fifth consecutive session. Inflows hit a 2026 daily record of $33.5 million, outstripping competitors like XRP and bringing total cumulative Solana ETF assets to a landmark $1.22 billion.
-Regulatory Tailwinds: The recent rally is largely fueled by optimism surrounding the U.S. SEC’s newly proposed "Reg Crypto" framework, which provides clear guidelines for token offerings and institutional capital raising.
-Transaction Dominance: Solana has significantly widened its lead over layer-2 competitors like Base in the payments sector. Driven by x402 payment protocols, Solana is now capturing roughly 70% of monthly x402 transaction volume across all chains, with total network daily transactions peaking over 170 million this month.
-On-Chain Governance Milestones: Network validators are currently voting on The Solana Constitution to activate official on-chain governance machinery, alongside a Resource Fee Vote aimed at burning a portion of transaction costs to accelerate asset disinflation. Both votes close this Thursday.
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