Solana (SOL) Price: Analyst Confirms $117 Level Reached After Trend Breakout

TLDR

• SOL hit the $117 breakout target flagged by analyst Bitcoin Meraklisi, with $141 and $176 as next levels to watch.
• Analyst LAR7Crypto closed a trade at $110.60 and expects a possible pullback before another push toward $120.
• US spot Solana ETFs saw $47.62 million in net inflows on September 18, all from Bitwise’s BSOL fund.
• SOL derivatives volume jumped 73.61% to $12.95 billion, while open interest rose 8.17% to $7.2 billion.
• DeFi Dev Corp. added 101,381 SOL to its treasury, growing its total holdings to about 2.49 million SOL.

Solana’s price has reached a key technical level this week. The token climbed to $117, a target first outlined by crypto analyst Bitcoin Meraklisi.

“The breakout added 58% in gains, with another 18% coming from the retest,” Bitcoin Meraklisi wrote in a post on X. He said the next levels to watch are $141 and then $176, if $117 holds as support.

Traders are now watching whether SOL can turn $117 into a support floor. A hold above this level would keep the bullish path open. A rejection could send the token back into a consolidation range.

Solana Price on CoinGecko

SOL Faces a Separate $120 Target From Another Analyst

A second analyst, LAR7Crypto, has been tracking a different SOL setup. He reported that the token hit his final target of $110.60, and that his trade position is now fully closed.

“I expect a short-term pullback before another attempt at $120,” LAR7Crypto said in his post. He added that the response to any retracement will show whether the bullish structure stays intact.

This gives traders two separate price maps to watch. Bitcoin Meraklisi’s path points toward $117, then $141 and $176. LAR7Crypto’s path points toward a pullback zone, then $120.

Derivatives data adds more context to the current move. Coinglass figures show SOL trading volume rose 73.61% to $12.95 billion. Open interest also increased 8.17%, reaching $7.2 billion.

The rise in both volume and open interest points to more traders holding larger positions. This can make price swings larger in either direction as SOL approaches resistance.

ETF Flows and Treasury Buying Add to the Picture

US spot Solana ETFs also saw fresh inflows this week. SolanaFloor reported $47.62 million in net inflows on September 18, all coming through Bitwise’s BSOL fund.

“Solana ETFs continue to see steady demand from investors,” SolanaFloor noted in its post sharing the data. The firm has also tracked SOL’s decentralized exchange volume, which has led all Layer-1 and Layer-2 networks for 21 straight weeks.

Treasury accumulation is another factor in play. DeFi Dev Corp. said its SOL holdings grew 4.24% in one week after buying 101,381 more tokens.

“Our total treasury now sits at approximately 2.49 million SOL and SOL equivalents,” the company wrote in its update on X. This adds to a broader pattern of corporate treasuries holding SOL.

None of these factors guarantee a price move on their own. But together, they show rising activity across trading, ETFs, and corporate holdings.

For now, $117 and $120 remain the two levels traders are watching most closely. The $47.62 million in ETF inflows from September 18 is the latest confirmed figure tied to institutional demand for SOL.

The post Solana (SOL) Price: Analyst Confirms $117 Level Reached After Trend Breakout appeared first on Blockonomi.