Solana Breaks $190, Fuels Rally with Institutional Inflows
Solana (SOL) surged past the $190 resistance level, triggering over $11 million in short liquidations and highlighting a thin sell wall as just 1.59% of SOL supply was bought above $189. The reduced resistance zone paves the way for further gains. Institutional investors poured $39.1 million into Solana products last week, driving trading volume to $8.18 billion and boosting market confidence. On-chain metrics — including active addresses, network fees and developer commits — also climbed, reinforcing bullish momentum. Analysts now view $185 as near-term support, with bulls targeting $200 if SOL holds above $190. A sustained SOL breakout could attract more capital to altcoins amid a broader risk-on crypto rally.
Bullish
The break above the $190 resistance mark and the thin supply zone above $189 ease upward pressure, supporting short-term bullish momentum. Combined with $11 million in short liquidations and $39.1 million of institutional inflows, this news suggests strong demand and diminishing selling barriers, likely driving SOL prices higher in the near term. Over the longer term, rising on-chain metrics and increased market confidence could sustain the rally, attracting further capital to Solana, although traders should watch support levels at $185 and $160 for potential corrections.