Solana Price Bounces Back on Institutional Flows Shift

Solana's recent price movements suggest a reversal in fortunes for the cryptocurrency. After trading near $81.73, Solana has defended its support zone at $76 to $77, placing buyers back in control of the short-term structure.

The institutional flows into Solana spot ETFs have reversed from recent outflows, with net inflows of $3.78 million recorded on February 24. This marks a shift towards accumulation, as derivatives positioning favors bulls at a long/short ratio of 2.59.

The rising open interest to $5.02 billion and the positive institutional flows set up a potential recovery towards $90.