Solana (SOL) has flashed its first SuperTrend buy signal since October 2025, according to analyst Ali Martinez, as the token rebounded toward $80 following cooler US inflation data. Martinez now sees potential for a rally toward $96 and even $121 if buying pressure continues, though he warns that a drop below $60 would invalidate the bullish outlook.
SuperTrend Buy Signal Appears
Martinez noted that the Average True Range (ATR) stop has flipped below price, triggering the first SuperTrend buy signal on Solana since October 10. The indicator, which tracks trend direction and volatility, suggests momentum is shifting. Martinez believes that if bulls maintain pressure, SOL could target $96 and eventually $121.
However, he cautioned that the $60 level is critical support. A breakdown below that point would negate the bullish setup, potentially sending the token lower.
Analyst Eyes Key Support Levels
Fellow analyst Michael van de Poppe also weighed in, describing Solana as being at an important crossroads. He argued that if SOL holds its current valuation around $77, it could spark a more substantial upswing. On the flip side, a drop below $73 might trigger a retest of recent lows in the coming weeks, he warned.
The mixed outlook comes as Solana’s fear, uncertainty, and doubt (FUD) hit the highest level of 2026, driven by the prolonged bear market and unmet ecosystem expectations. Some analysts interpret extreme fear as a contrarian bullish signal, suggesting that weak hands have already exited and a bottom may be in place.
ETF Filing Adds Momentum
Regulatory developments could also swing momentum toward the bulls. Bloomberg analyst James Seyffart revealed that Wall Street giant Morgan Stanley has filed updated documents to launch a Solana ETF under the ticker MSOL with a 0.14% fee. An eventual approval would draw additional investors into Solana’s ecosystem and benefit the price.
Morgan Stanley is not alone: Bitwise, Fidelity, Grayscale, VanEck, Franklin Templeton, Invesco, 21Shares, and Canary Capital have already filed for Solana ETFs. Cumulative net inflows into spot SOL ETFs have reached nearly $1.15 billion to date, underscoring strong institutional interest.
Market Context
The broader crypto market has also seen a rebound, with Bitcoin eyeing $65K and other altcoins gaining. Whether Solana can sustain its rally and break above $100 will depend on continued buying pressure and supportive macro conditions.