Solana [SOL] finally cleared the $119 resistance after several failed attempts, reaching $122 for the first time since January. Six consecutive trading sessions of Spot ETF inflows gave the move another source of support.
Are Solana ETF inflows helping SOL rally?
Solana [SOL] had already shown strength when AMBCrypto reported it had risen to $116. At the time, Spot ETFs had recorded two sessions of net inflows.
The streak continued. On the 25th of September, Daily Net Inflows reached roughly $86 million. Bitwise led with over $55 million, followed by Grayscale at $18 million.
None of the nine funds recorded net outflows that day. Since the 18th of September, Solana ETFs have attracted more than $235.8 million across six trading sessions.
That steady demand may have helped SOL push through resistance. The question now is whether buyers in the wider market are following through.
Are SOL buyers outpacing profit takers?
Earlier, AMBCrypto noted that ETF inflows were rising while holders were taking profits. SOL subsequently fell to $112 before starting another climb.
This time, selling pressure appeared to ease. Solana’s Delta stayed positive for two consecutive days, rising from 560,000 to 4.8 million on the 26th of September.
That jump pointed to stronger buying pressure. Exchange Netflow also turned negative, reaching approximately -$9.07 million after two days of positive readings.
The shift suggested that more SOL left exchanges than entered them. Still, the breakout faces a more immediate test at $120.
Can Solana hold above $120?
SOL’s recovery from $112 and move past $119 put buyers back in control for now. Continued ETF inflows and positive Delta could help the rally extend toward $130.
First, SOL needs to hold $120. If it slips below that level, $115 could come back into focus.
Final Summary
- Solana broke past $119 and reached $122 as Spot ETF inflows continued for six trading sessions.
- SOL’s positive Delta and negative Exchange Netflow suggested stronger buying, with $120 now the level to watch.
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