Solana Holds Near $90 as ETF Inflows and U.S. Commodity Ruling Put $96.47 Breakout in Play

Overview

• Solana jumped 22% from March lows to a one-month high near $97 this week before easing to about $90.
• The SEC and CFTC issued joint guidance confirming SOL is treated as a digital commodity rather than a security.
• Spot SOL ETFs recorded $17.81 million in net inflows on Mar. 17, taking cumulative intake to about $989 million before a $295,730 outflow on Mar. 18 ended an 11-day streak.
• Analysts highlight $96.47 as a pivotal resistance, with a decisive close above it seen as opening scope toward $100–$115, as the daily SuperTrend flips to buy.
• On-chain data indicate a demand floor between $85.55 and $82.60, while options activity surged and open interest slipped this week, reinforcing the potential for sharper price swings.