Solana broke through $119 to reach $122, its highest level since January, as spot ETF inflows extended to a sixth straight trading session. Positive delta and negative exchange netflow point to easing sell pressure, though SOL still needs to hold $120 to keep a push toward $130 alive.
SOL clears $119 after several failed attempts
Solana broke through the $119 resistance level and reached $122, its highest price since January. The token had already shown strength when it climbed to $116 with two sessions of spot ETF net inflows behind it.
The streak continued. On 25 September, daily net inflows reached roughly $86 million, with Bitwise contributing over $55 million and Grayscale adding $18 million. None of the nine funds recorded net outflows that day, and Solana ETFs have pulled in more than $235.8 million across six trading sessions since 18 September. That steady demand may have helped SOL push through resistance.
Buying pressure outpaces profit-taking
Inflows had earlier risen even as holders took profit, and SOL fell to $112 before climbing again. This time, selling pressure eased: Solana's Delta stayed positive for two consecutive days, rising from 560,000 to 4.8 million on 26 September. Exchange Netflow also turned negative, reaching approximately -$9.07 million after two days of positive readings, suggesting more SOL left exchanges than entered them.
Can SOL hold $120 on the way to $130?
Buyers regained control after the recovery from $112 past $119. 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.
Source: AMBCrypto
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