Solana price remained above the key $120 level as sustained institutional demand through U.S. spot ETFs strengthened expectations for further gains. Crypto analyst Ali Charts is watching for a potential move toward $150 after Solana ETFs recorded 11 consecutive weeks of net inflows.
SOL traded around $120.37 after reaching $121.23 on September 29, extending its rebound from below $100 earlier in the month. The broader cryptocurrency market gained 1.11% over 24 hours to approximately $2.9 trillion, while Bitcoin traded near $84,000 and Ethereum held above $2,700.
According to Ali Charts, U.S. spot Solana ETFs have accumulated roughly 4.37 million SOL since July 13, valued at about $450 million. The analyst said continued institutional buying could support another breakout toward $150, although the outlook depends on sustained demand and favorable market conditions.
Solana ETF inflows reached $188.21 million during the week ending September 27, according to SolanaFloor, marking the strongest weekly performance in 10 months. Bitwise's BSOL attracted $128.46 million, while Grayscale's GSOL and Fidelity's FSOL recorded $28.06 million and $17.59 million, respectively.
SoSoValue data also showed $12.70 million in net inflows on September 28. Cumulative Solana ETF inflows have now reached $1.62 billion, with total net assets standing at $1.93 billion.
Beyond ETFs, Solana led weekly spot trading in tokenized commodities for the first time. Blockworks data showed Solana-based decentralized exchanges processed $91.1 million between September 21 and 27, representing 28% of the $322.7 million market.
From a technical perspective, $125 remains the immediate resistance level. A sustained breakout could put $130 in focus before a possible advance toward $150. Support sits near $120, followed by $115 and $110.
The four-hour RSI stood at 55.99, signaling improving momentum. However, the MACD remained below its signal line with a negative histogram, suggesting a confirmed breakout above $125 has yet to materialize.
