Solana is consolidating around $120 on Monday after four consecutive positive sessions, with its recovery facing a test from sharply weaker ETF demand.
$SOL remains above its key moving averages on the four-hour chart, preserving a mildly bullish technical structure. However, price is approaching the narrowing boundaries of a triangle, leaving traders watching for a decisive move.
Network activity provides a counterweight to the slowdown in fund flows, with reported strength in decentralized exchange trading and tokenized equities.
