Solana price maintained levels above $120 after breaking through the threshold for the first time since January. The token gained approximately 8% over the past week as part of a broader recovery from $75 in early August.
Multiple attempts to clear $120 had failed earlier in the week before Friday's successful breakout. Analysts view $130 as the next potential target if SOL sustains its position above $120. Despite recent gains, Solana remains slightly lower for the year and approximately 58% below its January 2025 peak near $294.
Alpenglow Upgrade Enters Devnet Phase
Solana's Alpenglow upgrade transitioned to devnet on September 25, following a successful testnet migration the previous day. Anza announced that the network produced its Alpenglow genesis block and retired the older TowerBFT consensus system at slot 504148999.
The upgrade targets a reduction in transaction finality from approximately 12.8 seconds to roughly 150 milliseconds. Faster finality could enable exchanges to credit deposits more quickly and allow payment applications to confirm purchases with reduced delays.
Developers have been asked to test their programs and integrations during the observation period. Mainnet activation remains pending, meaning the speed improvements have not yet reached production transactions.
Technical Positioning and Price Targets
SOL reached $121.19 on September 26, with the four-hour chart showing the token rising within an ascending channel. The relative strength index stood at 63.09, indicating continued momentum without reaching overbought conditions.
The Chaikin Money Flow registered 0.09, reflecting positive money flow during the advance. Technical analysis places the next resistance between $123 and $125, with a sustained move above that area potentially bringing $130 into focus. The $120 level provides immediate support, while a break below would shift focus to $115.
Record Inflows into U.S. Solana ETFs
U.S. spot Solana ETFs recorded $86.67 million in net inflows on September 25, the highest daily total on record. Bitwise's BSOL led with $55.73 million, while Grayscale's GSOL attracted $18.47 million. Morgan Stanley's MSOL, Fidelity, and VanEck products also recorded inflows.
Weekly inflows reached $181 million, the second-highest weekly total. Total inflows across the funds reached $1.61 billion with total net assets at $1.96 billion. The funds generated $202 million in trading value as demand for Solana exposure strengthened across listed U.S. investment products.
