Solana Holds Steady Above $120.25 Support

Solana's price has remained steady near recent levels, with a key support at $120.25 keeping the asset stable. According to the latest data, Solana (SOL) is trading at $120.8, up 0.98% for the day. This uptick in price is attributed to the asset's strong technical indicators, which favor buyers. The Moving Averages (MA) are also in favor of SOL, with the MA-20 and MA-50 above the current price. The Ichimoku Kijun level of $120.25 serves as a crucial support level, and the asset is expected to consolidate within the $115.42 to $124.13 range.

The recent surge in non-vote transactions and institutional ETF inflows have boosted bullish sentiment for Solana. The Bitwise Solana Staking ETF received the full $1.3 million in net inflows on October 2, 2026, further supporting the asset's growth. Solana's network activity has also seen a 45% increase in non-vote transactions, reaching a record 14.2 billion in Q3. This growth in on-chain activity is a strong indicator of the asset's increasing mainstream adoption.

Analysts have noted that Solana's evolution beyond memecoins toward institutional-grade financial infrastructure could position the network for more mainstream adoption. The recent surge in non-vote transactions and the notable ETF inflows reinforce this trajectory, with a decisive move above $124.13 emerging as the next upside trigger for SOL.