Solana (SOL) may be on the cusp of a major market rally after the SuperTrend indicator turned bullish for the first time in two months. The prominent altcoin has been a major victim of the market decline, losing more than 62% of its value since October 2025. However, recent gains indicate building momentum for a possible price recovery.
Solana (SOL) Poised for Potential Trend Reversal – Analyst
In one X message On March 13, market analyst Ali Martinez shared that the SuperTrend indicator gave a bullish signal in the Solana market – the first since early January, amid prolonged price struggles that stretched into last year.
The SuperTrend indicator is a technical analysis tool used to identify the current market trend, i.e. an up or down trend, and potential buy or sell signals. Martinez’s analysis shows that the ST indicator signaled a sell in early February, around the time Solana crashed to around $67.
For the first time since early January, the SuperTrend indicator has turned bullish on Solana $SOL. pic.twitter.com/oCv8A6R93r
— Ali Charts (@alicharts) March 13, 2026
However, SOL soon recovered to eventually settle within a trading range of $76-$90, a consolidating move that has lasted for the past four weeks. Notably, Solana has recorded moderate price action above $90 twice in March, with the most recent colliding with the Supertrend indicator’s buy signal.
However, it is worth noting that a bullish signal from the SuperTrend indicator does not guarantee a sustained upside breakout as the indicator is based on historical price and volatility data and can produce false signals. In the event of a possible breakout, investors can expect an initial price increase to around $103, which represents SOL’s immediate resistance zone, following the prolonged correction in recent months.
Solana ETFs are seeing a significant decline in net flows
In other news, data from SoSoValue shows that inflows into the Solana Spot ETF have been relatively slow this week. At the time of writing, total net inflows for the week are $3.10 million, marking an 83% drop from the previous week’s final numbers.
At the same time, Solana is trading at $88.95, reflecting growth of 2.8% in 24 hours and 11.15% in 30 days. Price increases combined with declining inflows indicate that the recent upward movement may be driven more by spot market demand and broader market sentiment than by strong institutional capital.
Within five months of trading, total cumulative inflows into the Solana Spot ETF now stand at $961.08 million, while total net assets are valued at $824.87 million, i.e. 1.67% of Solana’s market capitalization. At the time of writing, Solana’s total market value is pegged at $54.74 billion, making its assets the seventh largest cryptocurrency on the market.