Solana (SOL)'s current price is about US$99, with a short-term correction of 3%, but it still recorded a strong increase of 35% in the past two weeks, maintaining significant momentum in the overall cryptocurrency market.
Solana ETF continues to record multi-day net inflows
Exchange-traded funds (ETFs) that track Solana spot prices in the United States have achieved net inflows for 11 consecutive trading days. On September 2, these ETFs recorded a net inflow of $10.9 million, continuing the bullish momentum that started earlier this month. The total net inflow of all Solana spot ETF products has reached US$1.35 billion, the total assets under management currently stands at US$1.39 billion, and the single-day trading volume of these funds has reached US$68.55 million.
Bitwise, a leading asset manager in digital assets, recorded the largest single-day net inflow among ETF providers, at US$6.17 million. Fidelity followed closely with a net inflow of $2.67 million and Morgan Stanley contributed $1.36 million. Other registered funds did not report new capital inflows during the same period. Bitwise currently has assets under management of US$949.83 million and cumulative total net inflows of US$1.03 billion, consolidating its position as a market leader in Solana spot ETFs.
ETP Provider| net inflow| Total Assets under Management (AUM)| Total net inflow
Bitwise| US$6.17 million| $949.83 million| US$1.03 billion
Fidelity| US$2.67 million| not apply| N/A
Morgan Stanley| US$1.36 million| not apply| Not applicable
Other Funds| $0| not apply| Not applicable
Market participants pointed out that continued capital inflows demonstrate that institutional investment demand for Solana remains strong even in times of heightened price volatility.
SOL Spot Price and Technical Level
SOL once fell to US$99.35 in recent trading, briefly testing but ultimately holding the important psychological barrier of US$100. The trading range remained between US$97.38 and US$100.71 for a long time, indicating that prices continue to consolidate near key support levels. Analysts view $95 as a key support area for SOL, and holding this level is critical to maintaining the current upward trend. If the daily closing price breaks through US$100 strongly, it may pave the way for prices to move into the US$110 resistance zone. If the upward momentum continues, US$120 will be the next target.
Derivatives market activity increases
Solana derivatives trading volume increased significantly by 22% to US$9.43 billion. But open interest fell slightly by 1.4% to $6.47 billion, indicating that some leveraged positions have been closed or liquidated. Options trading volume increased 19.3% to US$15.18 million, while options open interest rose 2% to US$135.98 million. The Relative Strength Index (RSI) is currently at 62.15, which has fallen back from the recently overbought area. The Chaikin Money Flow indicator is 0.25, indicating that funds continue to flow into SOL.
Cryptocurrency market analyst Ali Charts assessed the technical outlook and noted that the market is turning into a bullish pattern. According to his analysis, if the current support level is effectively defended, market conditions may be conducive to further gains. Ali Charts urged market participants to revisit their bearish view of Solana, emphasizing that technical forms are gaining ground and encouraging traders to plan ahead of potential significant price changes. Technical analyst Wealthmanager sets a long-term price target of $250, provided that SOL successfully breaks through the existing macro downward trend and confirms previous resistance levels as new support levels. In a down scenario, failure to hold the support above $95 may open up room for further declines, and $90 and $80 will become the potential next support areas.

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