Solana (SOL) cleared the $119 resistance level and rose to $122, the highest price since January. The move coincided with six consecutive trading sessions of net inflows into spot exchange‑traded funds (ETFs) that track the cryptocurrency.
ETF inflows
On 25 September, daily net inflows into Solana‑related ETFs were reported at roughly $86 million. Bitwise contributed over $55 million, while Grayscale added about $18 million. No of the nine tracked funds recorded net outflows that day. Since 18 September, the ETFs have attracted more than $235.8 million across six trading sessions.
Market dynamics
Earlier observations noted that ETF inflows were rising while some holders were taking profits, causing a temporary dip to $112 before the recent climb. During the latest session, SOL’s delta turned positive for two days in a row, increasing from 560,000 to 4.8 million on 26 September, indicating stronger buying pressure. At the same time, exchange netflow turned negative, reaching approximately –$9.07 million, suggesting that more SOL left exchanges than entered them.
Key price level
The breakout now faces a test at $120. Holding above that level would keep buyers in control, while a slip below could bring $115 back into focus.
Outlook
Continued spot ETF inflows and a positive delta may support further price gains, with $130 mentioned as a potential target if the current momentum persists.
