- Solana ETFs have attracted $1.16 billion as SOL holds above key support levels.
- A break above $88.30 could signal further gains for SOL.
Solana (SOL) is showing renewed strength as institutional inflows and network upgrades support demand. Solana ETFs have now recorded $1.16 billion in cumulative net inflows since launch, while SOL is holding above key support levels.
SOL traded around $85.37 after gaining 11.04% in 24 hours. The price remained close to its session high as buyers continued to dominate the market.
Solana ETFs See $1.16 Billion in Inflows
Institutional demand has become an important factor behind Solana’s recent price move. Solana ETFs have attracted $1.16 billion in cumulative net inflows since their launch.
The rise in ETF inflows points to growing interest from investors seeking exposure to SOL through regulated investment products.
User activity is also showing signs of improvement. Returning traders now account for 61% of Solana’s weekly users, marking the highest level since June 2024.
Together, stronger ETF demand and rising user retention point to increased participation across the Solana ecosystem.
Solana Governance Expands With 10 Million SOL
Solana also recorded a major governance development on August 19.
JitoSOL holders reached quorum, allowing around 10 million SOL from the Jito Stake Pool to participate in Solana protocol governance.
The development increases participation in Solana’s governance process. It could also strengthen investor confidence as more SOL becomes involved in protocol decisions.
At the same time, Solana reduced its target Mainnet slot time to 350 milliseconds in epoch 1020. The upgrade aims to improve network efficiency while managing operational risks.
SOL Holds Above Key Support Levels
SOL is trading above several important moving averages. The price is above the MA-20 at $82.65 and the MA-50 at $79.07 on the one-hour chart.
The MA-200 on the daily chart sits at $81.31 and continues to provide longer-term support. The Ichimoku Kijun also offers nearby support around $81.92.
Technical indicators remain largely bullish. MACD signals a Strong Buy, while ADX points to a Buy signal.
The Relative Strength Index (RSI) stands at 71.37, showing strong buying pressure. However, the elevated RSI also suggests that SOL could see short-term consolidation.
Can Solana Break Above $88?
SOL is expected to trade between $82.44 and $88.30 over the next two to three trading days.
A move above $88.30 could strengthen the bullish outlook and open the door to further gains. However, SOL needs to break this resistance with enough strength to confirm the next move higher.
On the downside, $82.44 remains an important level. A break below this support could weaken the current bullish setup and increase the risk of a deeper pullback.
For now, Solana remains supported by strong ETF inflows, rising network participation and improving technical conditions. The next major test for SOL is whether buyers can push the price decisively above $88.30.
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