Solana trades at $120 with analyst predictions of $150, supported by $1.62B in US SOL ETF inflows since July, though technical indicators suggest overbought conditions.
Macro & Markets ·
Solana rallied nearly 20% in September and now trades at $120, with analysts predicting potential movement toward $150, though technical signals warn of near-term downside risk. An anonymous trader opened a $20.2 million long position on SOL with a perfect four-trade record, while another market participant noted that the investor has generated $4.7 million in profits so far.
Institutional accumulation has accelerated, with US-listed SOL ETFs absorbing roughly 4.37 million coins since mid-July for a cumulative inflow of $1.62 billion—an all-time high. Last week alone saw these products attract nearly $190 million, marking the second-best week on record, reflecting sustained institutional demand.
However, technical indicators suggest caution. SOL's Relative Strength Index has climbed above 70, signaling overbought conditions typically associated with corrections. Additionally, recent exchange inflows have exceeded outflows, indicating a shift toward centralized platforms that could amplify selling pressure in the short term. Some traders expect a pullback to around $110 before the next leg higher, while the overbought RSI reading leaves the timing and magnitude of any near-term reversal uncertain.