Solana (SOL) broke through the $119 resistance to reach $122 for the first time since January, supported by six consecutive trading sessions of spot ETF inflows totaling over $235.8 million. Positive Delta and negative exchange netflow indicated stronger buying pressure, with $120 now the key level for continued upward momentum.
Solana (SOL) finally cleared the $119 resistance after several failed attempts, reaching $122 for the first time since January. Six consecutive trading sessions of spot ETF inflows provided additional support for the move.
On September 25, daily net inflows reached approximately $86 million. Bitwise led with over $55 million, followed by Grayscale at $18 million. None of the nine funds recorded net outflows that day. Since September 18, Solana ETFs have attracted more than $235.8 million across six sessions.
That steady demand may have helped SOL push through resistance. The question now is whether buyers in the wider market are following through.
Earlier, holders were taking profits while ETF inflows rose, and SOL subsequently fell to $112 before starting another climb. This time, selling pressure appeared to ease. Solana’s Delta stayed positive for two consecutive days, rising from 560,000 to 4.8 million on September 26.
That jump pointed to stronger buying pressure. Exchange Netflow also turned negative, reaching approximately -$9.07 million after two days of positive readings. The shift suggested that more SOL left exchanges than entered them.
Still, the breakout faces a more immediate test at $120. SOL’s recovery from $112 and move past $119 put buyers back in control for now. If it slips below $120, $115 could come back into focus.
