Solana Presses $120 as ETF Inflows Continue

That matters economically because Solana’s move is no longer being driven mainly by retail momentum or broad crypto beta. The price is increasingly tied to regulated capital flows, which can give the token a more durable bid if the inflows persist, but also a lower tolerance for disappointment if those flows slow. The latest readings show how tight the balance has become: the 50-day moving average sits near $100.34, while the token is still well above the 200-day moving average at $85.27, suggesting the longer-term trend remains constructive even as near-term resistance caps the upside.

The technical picture supports the same conclusion. SOL’s relative strength index was 77.2 in the latest reading, which points to stretched momentum rather than a clean breakout setup. The token also remains below its recent upper band near $128.80, leaving room for further gains if buyers can absorb supply. But the fact that SOL failed to hold above $122 on the latest move is a sign that profit-taking is not just noise; it is the main obstacle to a decisive advance.

Institutional adoption, however, is still tilting the narrative in Solana’s favor. The Bitwise Solana Staking ETF, BSOL, has passed $1 billion in assets after roughly 10 months, while Charles Schwab said it plans to expand crypto offerings to include Solana. That broadens access and reinforces the case that Solana is evolving from a speculative altcoin into a regulated portfolio asset, even as the network itself continues to show signs of use. The blockchain hit a record in transaction activity on Aug. 30, and the scheduled Transaction V1 upgrade on Sept. 9 keeps development catalysts in view.

For investors, the question is not whether Solana has demand, but whether that demand is strong enough to force out short-term sellers. A clean break above $120 could open the path to $130 and, later, the mid-$140s, in line with the bullish technical targets now circulating. A rejection, by contrast, would leave the market vulnerable to a deeper retest of the low-$110s or even the $100 area, where the 50-day average now sits. With ETF flows, network upgrades and broader crypto sentiment all converging, Solana’s next move will likely say more about the durability of institutional appetite than about the token itself.