TLDR
- Solana (SOL) is trading near $119.54, testing the $120 level again.
- U.S. spot Solana ETFs saw a record $188 million weekly inflow before a small outflow on Sept. 30.
- The daily chart shows a steady uptrend from August lows, with support near $105-$110.
- RSI sits at 63.22 while MACD momentum has cooled slightly.
- The Alpenglow upgrade is now live on public test networks, aiming for much faster transaction finality.
Solana is trading close to $120 as buyers try to push the token higher after a strong run from its August lows.
SOL opened near $118.04 on October 1. It climbed to $119.55 before settling around $119.54, up about 1.25% on the day.
The broader trend still looks firm. Solana has risen from roughly $75 in August, building higher lows through September.
Price has moved past the $95-$100 zone that capped gains for much of 2026. That old resistance now works as support.
Buyers Keep Testing the $120 Mark
SOL has tried to clear $120 several times over the past week. So far, no clean daily breakout has happened.
A move above $120-$122 would open the path toward $140-$145, a level SOL last traded at before its earlier decline this year.
On the downside, support sits around $105-$110. This lines up with the rising trend line that has held since August.
Below that, the $94-$100 range remains a key support area, since it once acted as a ceiling.
Momentum is still positive, but it has slowed. The daily RSI reads 63.22, above the neutral 50 mark but below the overbought level of 70.
MACD shows a mixed short-term signal. The MACD line sits at 5.56 against a signal line of 5.64, with the histogram slightly negative at -0.09.
This suggests the uptrend is intact, but buyers are losing some speed near $120.
ETF Flows Stay Strong Despite a Small Dip
Institutional buying remains a central part of the Solana story. U.S. spot Solana ETFs took in about $188 million during the week of Sept. 21-25, a new weekly record.
📈ETF DATA: U.S. spot @Solana ETFs recorded $5.44M in net inflows yesterday, led by $BSOL, bringing the total net inflows to $1.63 billion.
Track here: https://t.co/8nZJxjM9rd pic.twitter.com/srOWgOfd0Q
— SolanaFloor (@SolanaFloor) September 30, 2026
Bitwise’s BSOL fund made up roughly $128 million of that figure, or about 68% of total inflows.
Friday of that week alone brought in close to $87 million. Inflows continued on Sept. 28 and Sept. 29, adding $12.7 million and $5.4 million.
That streak broke on Sept. 30, when Solana ETFs saw about $12.5 million in net outflows. BSOL led the withdrawals with $8.9 million, while Fidelity’s FSOL still gained $2.8 million.
Total net inflows across Solana ETFs remain near $1.6 billion since launch.
Network upgrades are moving forward at the same time. Solana’s Alpenglow consensus upgrade is now running on devnet and testnet, targeting transaction finality of about 150 milliseconds, down from roughly 12.8 seconds today.
Solana has also cut its target slot time from 400 milliseconds to 250 milliseconds, part of a broader push for faster transaction speeds.
SOL is holding its rising daily structure near $119.50, with buyers trying to turn the repeatedly tested $120-$122 zone into new support.