Solana [SOL] has recorded a massive stablecoin inflow, tipping market observers to suggest that SOL could moon soon based on historical data. There will be a "moon landing" soon.
According to pseudonymous market observer Gumshoe, the recent surge in stablecoin inflows indicates that SOL may rise. 
"The last time there was a sudden increase in stablecoins, SOL surged three times. The last time this happened, SOL ETF applications appeared hours later."
In addition, the analyst said that this This could be inside information about an upcoming update that could affect the price of SOL.
According to Gumshoe, SOL’s break above $70 and $120 came on the heels of large stablecoin inflows. The most recent surge occurred on July 9, totaling more than $260 million, according to DeFiLlama.
It is worth noting that on this day, the Chicago Board Options Exchange (CBOE) also confirmed that VanEck and 21Shares’ SOL ETF plans to go live on the exchange.
In addition to the Solana ETF speculation, the Solana network recently reached a testnet milestone for its third validator client, Firedancer, which has been hailed as a game changer for the ecosystem.
Thus, Cboe’s confirmation of the SOL ETF launch and Firedancer update could be key catalysts for the SOL investment craze and may explain the stablecoin’s surge.
However, has the market structure changed on SOL’s price chart?
SOL Price Trend
SOL Price Trend. Source: SOL/USDT, TradingView
On July 9, the price rose just 1% as SOL consolidated near key resistance at $141. Interestingly, the 50-day SMA (simple moving average) is also at resistance.
The surge in Chaikin Fund Flow (CMF) confirms the large inflows, which could be interpreted as a risk-off strategy by investors towards SOL. This means SOL could consolidate near the 50-day SMA and target $155, which would bring a potential gain of 10%.
However, the RSI (relative strength index) is flat at neutral levels, suggesting there is no strong buying pressure pushing SOL forward.
Additionally, the percentage of traders who are bullish on SOL has dropped to 47% since July 8 from 49.6% during the news release period. This means that unless Bitcoin [BTC] reverses its recent losses, SOL’s recovery may be delayed.
SOL exchange long ratio. Source: Coinglass
However, another market observer predicts that SOL could reach $2,800 in the long term based on historical patterns.
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