Solana returned above $120 on October 4 after U.S. spot ETFs logged a record $188 million weekly inflow, but the token still faces a resistance band running from $122.57 to $125. Daily indicators lean bullish, while trading volume behind the latest high has not yet confirmed a breakout.
Solana traded at $120.96 at 08:36 UTC on October 4, moving back above $120 after a week in which U.S. spot Solana ETFs drew a record $188 million of net inflows through September 25. The advance still needs to clear a resistance band that begins at $122.57 and extends to the psychological $125 level, and the latest push higher has not drawn decisive volume behind it.
Record ETF week spans all seven funds
The inflow week was broad rather than concentrated in a single product. All seven U.S. spot Solana ETFs recorded inflows, including a daily record $87 million intake on Friday. Bitwise's BSOL fund alone accounted for about $128 million, or 68%, of the weekly total, according to CoinDesk.
That breadth gives Solana a fresh demand-side catalyst. Fund flows do not mechanically set the next price move, but they reinforce an already constructive daily technical picture at a point where the chart needs follow-through.
Daily momentum is bullish, but volume lags
Solana's 14-day RSI stood at 65.4, a bullish reading the source did not classify as overbought, though four-hour RSI was a neutral 57.8. Price sat above all eight tracked daily moving averages, and the 50-day average was above the 200-day average, a bullish structure overall. The daily MACD histogram was positive, with MACD(12,26) at 0.679 carrying a Buy classification, even as hourly momentum stayed closer to equilibrium.
Volume is the main qualification. Twenty-four-hour turnover was $1.58 billion, elevated but not enough to confirm the breakout, since lower volume behind the latest high left the move incomplete.
Support at $119.84, resistance through $125
At $120.96, Solana sat between nearest support at $119.84 and first resistance at $122.57. Holding $119.84 would preserve the current structure, while losing it would shift focus to the $116.50-$116.90 shelf and then the $112.54-$113.00 20-day EMA zone. Above the market, the $123.35-$125.00 zone holds the recent swing high near $124.20 alongside the round-number $125 threshold, with $127.50-$128.00 the next reported resistance if SOL first closes above $125.
Record fund inflows and favorable daily indicators give Solana a credible route to challenge $125, but the resistance band, not the inflow figure, remains the market's decisive near-term test.
Source: Crypto Daily
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