Key highlights
- Technical analysis shows that prices are above the key resistance zone and are moving strongly: SOL's current price is US$121.69, rising 0.23% after successfully breaking the resistance level of US$94.85. Technical indicators show that the Relative Strength Index (RSI) is 68.44, and the MACD is in a long position, indicating that the market still has upward momentum.
- Internet activity shows strong expansion: The total lock-in value of Solana's decentralized finance (DeFi) segment increased from US$4.7 billion in early August to US$6.7 billion at the end of September. The open interest in derivatives is close to US$7.5 billion, and the daily trading volume exceeds US$12 billion.
- Solana ETF sets a historical weekly inflow record: From September 21 to 25, 2026, Solana ETF recorded a weekly net inflow of US$188.21 million, the highest level since the product was launched. Among them, Bitwise's BSOL products performed particularly well, monopolizing US$128.46 million, accounting for 68% of the total inflow.
Solana ETF has ushered in a historic week, with funds continuing to pour into
The Solana ETF market has recently experienced its brightest performance since the launch of the product. During the five trading days from September 21 to 25, 2026, the relevant fund portfolio absorbed a total of US$188.21 million in new capital. This achievement was due to the joint contribution of all seven Solana ETF products, all of which achieved net positive inflows during the statistical period. On the last trading day alone,$86.67 million in funds poured into these products, consolidating the week's historic milestone status.
In the market landscape, Bitwise continues to maintain its dominant position. The company's Bitwise Solana Staking ETF (BSOL) captured $128.46 million this week, accounting for more than two-thirds of all investors 'funds flowing into the product. Grayscale came in second, with its Solana-focused products absorbing $28.06 million over the same time period.
Technical analysis: Strong stability in key areas
Currently, the trading price of SOL is US$121.69, a slight increase of 0.23% from the previous trading day. Asset prices hit a high of $124.95 in today's trading. The rise followed SOL's decisive breakthrough of the $94.85 mark, which had limited upside for prices throughout September. This breakthrough pushed SOL from below $100 to above $120 currently.
Chart analysts identified US$73.62 as an important support area. Technical strategists pointed out that as long as prices remain above $120, the current bullish structure can be maintained; conversely, if prices fall below $94.85, the positive market structure will be undermined.
The momentum indicator from TradingView showed the Relative Strength Index (RSI) at 68.44, above its moving average of 62.91. This figure is slightly below the 70 threshold, which is typically considered an overbought area. At the same time, the MACD indicator recorded 6.40, higher than the signal line of 5.36, and the histogram reading was 1.04. Together, these indicators suggest that there is still continued cumulative pressure in the market.
Fundamental data: Internet activity has expanded significantly
Solana's decentralized finance (DeFi) sector has experienced significant growth. Tracking by DeFiLlama, the total lock-in value (TVL) climbed from approximately $4.7 billion in early August to $6.7 billion at the end of September. Throughout September, decentralized exchange (DEX) transaction volume, active wallets and transaction throughput remained at high levels.
CoinGlass derivatives data shows that open interest is close to US$7.5 billion, and daily trading volume exceeds US$12 billion. The rise in open interest in tandem with prices often indicates that new leveraged positions are being established as assets appreciate.
Blockchain monitoring service Lookonchain was particularly concerned about an aggressive transaction. About a month ago, a market participant opened a long position in 550,087 SOL tokens with a leverage multiple of 20 and an initial value of approximately US$67.88 million. According to Lookonchain's assessment, the current unrealized gain on this position has exceeded $23 million, and the trader has set a stop profit target of $200:"If $SOL reaches $200, he may make more than $65 million!"
Currently, market participants are closely watching today's high of $124.95. A break through this level would represent a continuation of the established upward trajectory; conversely, if it fell below $120, the market focus would shift back to the support area of $94.85.

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