Solana exchange-traded funds just recorded their strongest weekly net inflow since February, while futures open interest on the token climbed nearly 30% over the same period. Traders are now positioning for a potential rally toward $120, a level that would mark a fresh high for the year.
ETF inflows break months-long slump
Data from asset managers and fund trackers shows that Solana ETFs pulled in more capital last week than in any single week since the start of February. The figure ended a stretch of tepid demand that had followed the initial wave of product launches earlier this year. The inflows suggest renewed institutional appetite for SOL exposure, even as the broader crypto market has traded in a narrow range.
Futures market flashes bullish signal
Open interest in Solana futures — the total value of outstanding contracts — surged roughly 30% during the same period, according to exchange data. The jump indicates that traders are adding leveraged bets on direction, rather than simply closing positions. When open interest rises alongside price, it typically reinforces the trend; SOL has gained about 12% over the past seven days.
Why $120 is the next target
The $120 price point has emerged as a key resistance level in trading circles. The token last traded near that mark in early February, just before the ETF inflow wave crested. With the funding rate on perpetual futures still below levels that historically precede sharp liquidations, some traders see room to run. A break above $120 would likely trigger stop orders and short squeezes, according to order-book analysis from multiple trading platforms.
What to watch this week
ETF inflow data for the current week will be published Wednesday and Friday. A second consecutive week of strong purchases could embolden bulls to push SOL through $120. On the other hand, a sudden reversal in open interest or a broader market downturn could stall the move. For now, the momentum is clearly on the side of buyers.
