Solana (SOL) took $110 as a strong launchpad, rising to $119—a level the coin hasn’t touched since January 2026. At the time of writing, the coin was trading at around $116, up 4% over the day, driven by an improvement in overall market conditions alongside strong institutional demand.
Institutions support Solana
After the market regained its upward momentum, institutions’ appetite for returning to Solana returned as well, after the BSOL fund was the first to kick off this trend, recording inflows that exceeded $47 million on September 18. Then other funds followed: most spot SOL (ETF) funds recorded positive net inflows, with only three out of nine funds seeing no movement.
And total net daily inflows into these funds reached $26 million, bringing total assets under management to $1.74 billion. During the past two trading sessions, the coin recorded more than $73 million in net inflows, reflecting a shift in the sentiment of institutional investors. It is worth noting that in the previous time inflows reached these levels, SOL’s price rose from $82 to $109, suggesting a direct link between the strength of institutional flows and price jumps.
Small investors curb momentum
On the other hand, small and mid-sized investors took advantage of the market’s recovery to lock in profits after a long period of weak performance. When Solana reclaimed the $100 level, profit-taking intensified, as spot net flow turned negative only once over the past week. Meanwhile, the last three days saw rising deposits on the platforms, and net inflow on September 21 reached a peak of $98 million—the highest level since November 2025. This indicator remained positive at $30 million at the time of writing, reflecting strong immediate selling pressure that slowed momentum and caused a slight recent pullback.
Where is Solana headed?
Although SOL fund net inflows have not exceeded $73 million across two consecutive sessions—an amount relatively lower than deposits on the platforms during the same period—the market structure still leans bullish. The standardized NRVGI indicator continued its upward trajectory for the sixth consecutive day, and the “Trend Pressure Prism” indicator showed a bullish conviction by logging 87 points. These factors suggest the market is absorbing the current selling pressure well, giving it a chance for a new upward wave.
Therefore, any slowdown in profit-taking or an increase in ETF fund inflows could help Solana break above the $120 level, with the possibility of targeting $130 and a medium-term goal of $148.
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