The price of Solana has risen past $90, continuing its upward trend and bringing the $100 benchmark back into the spotlight for traders. This increase follows a recent period of decline, making it critical to see if $SOL can establish a durable recovery rather than just experience another temporary spike.
This uptick is also fueled by the successful implementation of Solana’s Agave upgrade, which has cut the target slot time from 400 milliseconds to 350 milliseconds, enhancing the efficiency of the network. As $SOL approaches this crucial price level, attention is turning to whether buyers can sustain this upward momentum and potentially drive prices toward $100.
ETF Inflows & Increasing Open Interest Bolster $SOL’s Surge
The recent ascension of $SOL is accompanied by a significant rise in both spot ETF interest and derivative market activity. The Solana spot ETF activity reflects a notable increase in net inflows, with recent figures reaching approximately 170,000 $SOL, significantly higher than previous days. At current prices, this equates to over $15 million in new investments.
Open interest has surged rapidly in tandem with the price movements. From about $4.4 billion at the start of August, $SOL’s overall open interest has risen to nearly $6 billion, currently sitting at around $5.96 billion. This rapid growth became particularly noticeable as $SOL moved from the mid-$70 range towards $90, indicating that traders are increasingly preparing for further price gains.
This combination is noteworthy as ETF inflows suggest increased demand in the spot market, while rising open interest indicates greater engagement in the derivatives market. Nonetheless, the sharp rise in open interest means that the current rally is fueled by more leveraged positions, making the price range of 91–97 crucial. A sustained breakout could lead to more strategic positioning, while a setback might cause a rapid correction of crowded trades.
$SOL Price Targets $98 After Surpassing Key Resistance
$SOL has decisively exceeded the rising trendline, currently trading around $91.99 after hitting an intraday high of $93.39. This breakout is significant as the price re-enters the 91–93 resistance zone that had previously hindered upward movements, positioning bulls to aim for higher prices.
Supporting indicators are also showing positive trends. The Cumulative Volume Delta (CVD) has experienced a notable spike alongside the recent price increase, indicating a surge in aggressive buying. Meanwhile, the On-Balance Volume (OBV) has climbed to approximately 518.67 million, reversing its prior decline and suggesting that volume is increasingly driving the upward trend.
Solana Faces Key Challenge—Can it Hit $100?
While Solana’s recent recovery has gained traction, its future direction will rely on whether buyers can solidify the 91–93 range as a strong support level. The combination of robust ETF inflows, increasing market engagement, and enhancing buying pressure remains constructive overall. A steady move above $93 would shift focus to $97.78, and breaching this resistance could pave the way toward the critical psychological milestone of $100, with $105.14 emerging as the next significant upside target if momentum persists.
If the price of $SOL fails to sustain above $91, the next significant downside target to monitor is around $88.61, where the rising trendline currently lies. A deeper pullback could bring attention to the $84 level before buyers attempt another recovery. At this stage, $93 is the immediate threshold, while $100 remains the main objective for bullish traders.