Solana(SOL) held above $120 on Sept. 29 as an 11-week U.S. spot ETF inflow streak, including a $188.21M week, supported an analyst’s $150 target. Key Points: U.S. spot Solana ETFs have logged
Solana(SOL) held above $120 on Sept. 29 as an 11-week U.S. spot ETF inflow streak, including a $188.21M week, supported an analyst’s $150 target.
- U.S. spot Solana ETFs have logged 11 consecutive weeks of inflows and accumulated about 4.37 million SOL since Jul. 13.
- Weekly flows reached $188.21 million through Sept. 27, with Bitwise’s BSOL contributing $128.46 million.
- SOL still faces resistance near $125, while a negative MACD leaves the breakout unconfirmed.
U.S. spot Solana ETFs had bought about 4.37 million SOL since Jul. 13, worth roughly $450 million. He linked that demand to a possible move toward $150.
The analyst wrote, “SOLANA BREAKOUT INCOMING,” and said the 11-week inflow streak showed institutional demand was continuing to absorb Solana. His forecast remained conditional on demand holding, since a move toward $150 would still require price strength beyond the recent ETF buying.
SolanaFloor data showed the funds drew $188.21 million in the week ending Sept. 27, which it described as the strongest weekly result in 10 months. BSOL led with $128.46 million, followed by Grayscale’s GSOL with $28.06 million and Fidelity’s FSOL with $17.59 million.
SoSoValue also recorded $12.70 million in net inflows on Sept. 28, taking cumulative net inflows to $1.62 billion and total net assets to $1.93 billion. The funds represented 2.76% of Solana’s market capitalization, while the 4.37 million SOL figure covered token accumulation only since Jul. 13.
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SOL reached $121.23 on Sept. 29 after recovering from below $100 earlier in the month, and it had briefly approached $125 on Sept. 27 before pulling back. The $125 area remains the immediate test.
The four-hour RSI stood at 55.99, indicating improved momentum, but the MACD line remained below its signal line and the histogram stayed negative. Those readings leave a break above $125 unconfirmed, while a sustained move through that level would put $130 in focus before the analyst’s $150 target.
Solana also led weekly spot trading in tokenized commodities for the first time, according to Blockworks data, with decentralized exchanges processing $91.1 million from Sept. 21 to Sept. 27. That was 28% of the $322.7 million market.
Robinhood Chain ranked second with $81.3 million, Canton handled $67.4 million and Ethereum(ETH) recorded $62.6 million, while Solana’s share had risen from 5% four weeks earlier.
The shift adds another measure of network activity alongside the ETF demand highlighted by Ali Charts.
Earlier in September, SOL had traded below $100 before recovering toward $125, then settling back near the $120 area by Sept. 29. If $120 fails, the chart identified additional support near $115 and $110, levels that frame the downside after the month’s rebound.
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