Solana Price Eyes $120 as ETF Inflows Extend Streak

Solana price is holding near the key $100 level despite a mild cryptocurrency market correction that interrupted its recent rally. SOL declined 2.95% over 24 hours to around $99.35, underperforming the broader crypto market, but remains roughly 35% higher over the past two weeks.

Institutional demand continues to provide support. U.S. spot Solana ETFs recorded their 11th consecutive trading session of net inflows, adding approximately $10.9 million on September 1. Cumulative net inflows have reached about $1.35 billion, while combined assets stand near $1.39 billion. Trading volume across the products totaled $68.55 million during the session.

Bitwise led daily inflows with $6.17 million, followed by Fidelity at $2.67 million and Morgan Stanley at $1.36 million. Bitwise remains the largest Solana ETF provider, holding approximately $949.83 million in assets and more than $1.03 billion in cumulative inflows. The sustained streak suggests institutional interest remains resilient despite SOL's short-term price weakness.

Solana derivatives activity also accelerated. Trading volume climbed about 22% to $9.43 billion, signaling increased market participation. However, open interest slipped 1.4% to $6.47 billion as some traders reduced leveraged positions.

Options activity showed similar strength, with volume rising 19.3% to $15.18 million. Options open interest increased 2% to $135.98 million, indicating a modest expansion in outstanding positions.

SOL recently traded around $99.48 after moving between $97.38 and $100.71. Importantly, Solana price remains above the crucial $95 support level, preserving its broader bullish structure. The Relative Strength Index stood at 62.15 after cooling from overbought territory, while the Chaikin Money Flow reading of 0.25 continued to indicate positive capital flows.

A sustained daily close above $100 could put the $110 resistance level back in focus. If SOL breaks $110 with strong trading volume, the next bullish target could emerge around $120.

Conversely, losing the $95 support could expose Solana to a decline toward $90. A sustained break below $90 would weaken the bullish outlook and potentially shift attention toward the $80 support zone.