Solana News Today: Institutional Demand Fuels Solana's $130 Rebound, Eyes $250 Breakout

Solana (SOL) is testing critical support near $130, with technical indicators and institutional demand signaling potential for a rebound. Recent price action has formed a V-shaped recovery since November 11, following a 25% drop from $173 to $128. The Relative Strength Index (RSI) has improved from 28 to 50, suggesting growing buying pressure. Historical patterns show rebounds from this level have triggered 100%+ rallies, such as a 108% surge to $265 in late 2024. Solana's futures open interest increased 5% in 24 hours to $7.3 billion, while net taker volume turned positive, indicating spot buyers are stepping in at lower levels.

Institutional interest in Solana is accelerating, driven by ETF inflows and new product launches. U.S. Solana ETFs recorded $8.26 million in inflows on November 19, bringing cumulative assets to $513 million. Fidelity's Solana ETF (FSOL), launching November 19 with a 0.25% fee, and VanEck's recent debut have added momentum according to TradingView. These funds now manage over $500 million in net inflows year-to-date, contrasting with Bitcoin ETFs' reported $903 million in outflows on November 20.

Meanwhile, GeeFi (GEE), a multichain crypto wallet and staking platform, has captured market attention. Its token presale sold 5.3 million of 400 million available tokens in the first 24 hours, raising over $250,000. The $0.05-priced GEE token offers utility through fee reductions, staking rewards, and governance rights. GeeFi's Android app, supporting 14+ blockchains, has seen strong adoption amid Avalanche's 99.9% fee cuts and Solana's expanding developer ecosystem.

Solana's on-chain fundamentals reinforce its bullish case. Daily active addresses rose 18% year-over-year, and transactions increased 9.1% in 30 days. The network now processes over 10,000 transactions per second with fees often under one cent according to Yahoo Finance. Developer growth has surged 61.7% in two years, with 17,708 active builders driving innovation in DeFi, NFTs, and real-world asset tokenization.

Market structure suggests a path higher for SOL. A break above $170 resistance could target $250, an 80% gain from current levels. Institutional demand, combined with GeeFi's presale success and Solana's technical upgrades, positions the network for sustained growth. However, volatility remains, as seen in BlackRock's Bitcoin ETF (IBIT), which lost $532 million in a single day amid broader crypto declines.