Points of Focus

• Solana ETF products attracted more than $39 million in weekly inflows as institutional positioning strengthened.
• SOL reclaimed its 100-day moving average for the first time in 205 days while RSI momentum continued to recover.
• Traders are watching the $100 level closely as funding rates, whale positioning, and open interest turn bullish.

Fresh ETF inflows and improving momentum indicators are reviving expectations of another test of the psychological $100 level for Solana, which traded at $95.35 at the time of writing after gaining nearly 15% over the past week. The recovery comes as derivatives positioning, whale activity, and relative strength against Ethereum have started turning more supportive for Solana following months of sideways price action.

Unlike previous short-lived rebounds earlier this year, the latest move is being supported by rising futures participation and sustained institutional demand. Data from CoinGlass showed US-listed spot Solana ETF products recorded $39.23 million in weekly inflows, marking the strongest weekly intake since mid-January 2026.

Solana ETF Inflows Support Recovery Structure

ETF flows are becoming a more important driver for Solana as traders search for signs that institutional capital is expanding beyond Bitcoin and Ethereum. While Solana-related products remain significantly smaller than spot Bitcoin ETFs, the recent inflow acceleration suggests investor appetite has improved alongside the broader crypto recovery.

CoinGlass data also showed Solana futures open interest rising from roughly $4.83 billion earlier this month to around $6.35 billion. Rising open interest alongside price appreciation typically signals fresh capital entering the market rather than only a short squeeze

Funding rates also flipped positive over the weekend, indicating long traders are again willing to pay a premium to maintain bullish positions.

A separate whale transaction added to that narrative after blockchain tracker data identified a trader opening a leveraged 78,000 SOL long position valued near $7.5 million.

You had MONTHS to buy the bottom of SOL.

Currently it is still under $100.

But we are about to explode.

Connect the dots or stay broke. pic.twitter.com/T5qB8bfO1o

— Gordon 🐂 (@GordonGekko) May 11, 2026

RSI Recovery and 100DMA Reclaim Strengthen Momentum

Technical indicators are also beginning to support the broader recovery structure.

Trader MacroCRG noted on X that SOL reclaimed its 100-day moving average for the first time in 205 days, a level that had capped rallies for months during Solana’s broader downtrend.

$SOL is back above its 100DMA for the first time in 205 days pic.twitter.com/9kHAt8uaF3

— CRG (@MacroCRG) May 9, 2026

At the same time, the Relative Strength Index on several higher timeframes climbed back toward bullish territory without yet reaching the extreme levels typically associated with euphoric breakouts. On daily charts referenced across multiple trading desks, RSI readings remained near the upper-60s to low-70s region.

That recovery matters because Solana spent much of the first quarter trading below key moving averages while momentum indicators remained weak. The recent shift suggests buyers are regaining control near the $90 support region.

SOL also continued holding above its 50-day and 100-day moving averages during the latest consolidation phase, while hourly charts showed buyers repeatedly defending the $92 to $93 area.

SOL Versus ETH Strength Adds Another Bullish Signal

Part of the bullish case for Solana is now extending beyond the SOL/USD pair itself.

Crypto trader TraderSZ recently argued that the SOL/ETH chart appears to be bottoming after months of relative weakness. Historically, periods where SOL gains strength against ETH have often coincided with stronger upside expansion in Solana during broader market recoveries.

The SOL/ETH pair has repeatedly held support near the 0.032 to 0.040 ETH zone since 2021, making the current range important for traders watching relative performance between large-cap altcoins.

$SOLETH looks bottomed to me so I think solusd outperforms ETHUSD based on current chart for me. Both should run but cross pairs usually give you a clue which will run harder

This remains my view till market tells me otherwise https://t.co/cpN98h7JLC pic.twitter.com/pCYl8DJ08V

— TraderSZ (@trader1sz) May 10, 2026

The improving cross-pair structure arrives as Solana continues posting strong decentralized exchange activity and consistent on-chain activity metrics compared with several competing Layer-1 networks.

Solana Price Faces Key Test Near $100 Resistance

Despite improving momentum, the rally still faces an important test near the $98 to $100 region.

Technical setups tracked across multiple trading desks identified that zone as both a psychological resistance area and a heavy supply region tied to earlier breakdown levels. A decisive move above $100 could expose the next resistance cluster near $105 to $108.

Still, some warning signs remain.

RSI readings are approaching overbought territory on shorter timeframes, while Bollinger Band positioning suggests the recent rally may already be stretched in the near term. Open interest growth can also amplify downside volatility if momentum weakens unexpectedly.

Regulatory uncertainty around US crypto legislation also remains a background risk for Solana-linked investment products, particularly as policymakers continue debating digital asset classification frameworks.

For now, the broader structure favors buyers while SOL remains above the $92 support region. A sustained move above $100 will likely depend on whether ETF inflows and derivatives participation continue strengthening through the remainder of the month.