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SOL Core Points
SOL has climbed above $94, rising 27% in the past seven days, hitting its highest level in two months.
Solana-focused exchange-traded funds recorded positive inflows for four consecutive days, totaling US$28.34 million.
Internet validators are currently voting on three governance measures (SGP 1, 2, 3), and voting will end Thursday.
Two of the proposals aim to tighten SOL supply by accelerating deflation and expanding the fee destruction mechanism.
If the daily line can decisively break through US$100, it may pave the way for SOL to challenge US$112.52.
Market Analysis: Technical indicators send positive signals
On Monday, Solana trading prices remained above US$94, rising about 1% in the past 24 hours, and have climbed sharply by 27% in the past week. This performance brought SOL prices to their strongest level in eight weeks.
Recent gains have pushed the digital asset past key moving averages: the 50-day exponential moving average ($79.04) and the 200-day exponential moving average ($92.67). These technical indicators have now become supporting areas.
Short-term resistance appears at a high of $98.41 on May 11, and the psychological level of $100 is within reach. If the daily closing price can be confirmed to exceed US$100, it may open up space for a subsequent rise to US$112.52.
On the four-hour chart, the Relative Strength Index (RSI) hovers around 64, approaching overbought territory. Although the MACD indicator continues to show bullish momentum and buyers still dominate, the recent pace of increase suggests that prices may stabilize in the short term.
Governance proposal sword points to supply compression
On Sunday, the Solana validator community began voting on three governance proposals, and the final results are expected to be released around 15:30 UTC on Thursday. Voting rights are proportional to the number of SOLs pledged by each verifier.
The first proposal, SGP-0001, aims to approve the Solana Charter, establish a formal governance framework and clarify decision-making processes. If passed, it would support the infrastructure needed to implement subsequent governance votes.
SGP-0002 seeks to accelerate online deflation plans, increasing the annual deflation rate from 15% to 30%. Once implemented, new token issuance will be cut more aggressively, bringing the agreement closer to its minimum supply threshold faster.
SGP-0003 proposes to redesign the transaction fee structure. Under the model, block producers will receive a fixed allocation, while the variable portion associated with calculated usage will be permanently destroyed. Analysis shows that the mechanism could increase the daily token destruction volume from approximately 650 SOL to 7500 to 9000 SOL-worth as much as US$846,000 at current market prices.
There is a procedural exception in the voting order: Although SGP-0001 formally establishes the governance framework itself, SGP-0002 and SGP-0003 actually make decisions in parallel under this framework.
Institutional funds boost momentum
According to CoinGlass data, investment products focusing on SOL recorded capital inflows for four consecutive trading days last week, with a cumulative new investment of US$28.34 million. This set the best weekly performance for these funds in eight weeks.
The timing of these inflows coincided with Solana's 27% price recovery. Continued institutional capital accumulation may bring additional upward pressure, but a week of positive fund inflows alone is not enough to indicate a sustained reversal of the trend.
Cryptocurrency analyst Ivan on Tech commented on this, pointing out on the X platform that SOL"turned bullish for the first time since the fourth quarter of last year." He saw this as a positive technical signal and suggested that the trend could create upside opportunities for smaller tokens built on the Solana blockchain.
