SOL tops $100 on spot ETF inflows & whale longs, but $98 support in focus
Solana (SOL) is gaining momentum after spot SOL ETF inflows and whale activity. In the latest update, SOL is up about 8% in 24 hours, briefly trading above $105, and is around $104 (+~42% on the month), reflecting a broader risk-on bounce tied to US monetary-policy expectations.
On the institutional side, spot SOL ETF products have posted a streak of positive days (seven consecutive green days, per SoSoValue). On-chain/whale signals also add fuel: Lookonchain flagged a trader inactive for two years buying nearly 96,000 SOL for about $10M, and another whale opened a reported ~$14.8M SOL long position.
Traders remain split on continuation. Daan Crypto Trades says SOL looks constructive if it holds above ~$98. Bullish price targets are circulating from $150 to highly aggressive forecasts near $1,000.
Risk factors are now more explicit. Some commentary expects a pullback first, with Sweep suggesting SOL could revisit around $70 before any “parabolic” move. CoinGlass exchange netflow data is cited to imply increased pressure from coins moving from self-custody to centralized exchanges, which can precede near-term selling. For traders, the near-term checklist is simple: SOL needs to defend the ~$98 support and avoid exchange-driven sell pressure for the rally to extend.
Neutral
SOL’s price action is supported by spot SOL ETF inflows and bullish whale positioning, and the broader market tone is risk-on—factors that typically favor trend continuation. However, multiple near-term caution signals are rising: exchange netflow data suggests tokens moving to centralized exchanges (potential sell pressure), and overbought/pullback narratives point to a possible dip before any sustained breakout. As a result, the news is net supportive for momentum, but not cleanly bullish without confirmation that SOL can hold key support around $98 and avoid exchange-driven selling.