Solana ETF Demand Extends To 11 Weeks With Price Above $120

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 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.

Solana ETF Demand

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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Ali Charts Outlook

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.

Aliasgar Juzar

Aliasgar is an associate writer at Yellow.com, covering crypto, AI, and the infrastructure underneath both. He started writing after having come from the other side of the industry, spending six years building and supporting developer tools at protocols including Ignite, Informal Systems, Akash and Warden, much of it inside the Cosmos ecosystem. He holds a master's in computer science, has shipped products of his own, and writes from Germany.