Solana has jumped 40% over the past week, touching almost $110 before settling near $105 and pushing its market cap to roughly $61 billion. Spot SOL ETFs have posted eight straight green days and whales have returned, and most analysts on X remain bullish even as one warns of a pullback to $70.
Solana's native token has soared 40% over the past week, and earlier on August 28 it jumped to almost $110, its highest level since January this year. As of writing, SOL trades around $105, with a market capitalization of roughly $61 billion, per CoinGecko.
ETF green days and whale buying drive the ascent
The improved condition of the crypto sector appears to be the main catalyst behind the ascent, and rising institutional interest may also be a factor. According to SoSoValue, spot SOL ETFs have recorded eight consecutive green days — the last time this happened was in May 2026. Whales have also returned, with some spending millions of dollars to re-enter Solana's ecosystem.
Traders split between $150 targets and a pullback warning
Analysts on X are predominantly bullish. Daan Crypto Trades argued everything looks good as long as the price holds above $98, while SKYLINE expects it is only a matter of time before SOL rises beyond $150. X user Fuel went further, envisioning an eventual move to $1,000.
Not everyone agrees. Sweep took a more cautious tone, saying a drop to $70 remains possible, but added: "after that, Solana will go parabolic".
Source: CryptoPotato
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