Solana Price Prediction: Backpack CEO Backs SOL as Price Tests $93 Breakout
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SOL trading at $92.25 on Mar 25 (+1.64%); price is pinned below four EMAs and inside a 2h descending channel after collapsing from >$130 (Jan) and bottoming at $67.58 (Feb), hovering between the 0.5–0.618 Fibonacci levels on the daily chart. US SOL spot ETFs pulled in $4.64M in daily net inflows, bringing cumulative ETF inflows to ~$994.43M, signaling improving funding and token adoption via ETFs. Backpack CEO endorsement positions Solana as the primary network for projects and the most liquid DeFi market, boosting adoption and liquidity narrative, though a clean breakout is needed for constructive price momentum.
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- SOL trades at $92.25, up 1.64%, caught between the 0.5 and 0.618 Fibonacci levels on the daily chart.
- US SOL spot ETFs have pulled in $4.64M in daily net inflows with cumulative total approaching $994.43M.
- Backpack CEO called Solana the only network crypto projects need to be on, citing its depth as the most liquid DeFi market in the world.
SOL trades at $92.25 on March 25, holding inside a descending channel on the 2h chart while the daily sits pinned below all four EMAs. The ETF flow picture is quietly improving, and the Backpack CEO’s endorsement adds a fundamental backdrop to a chart that needs a clean break to turn constructive.
Pinned Below Four EMAs
SOL collapsed from above $130 in January, bottomed near $67.58 in February, and has been grinding inside the 0.382 to 0.618 Fibonacci recovery range since. Price…
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