Solana Price Pullback Hints at Next Level to Watch
Solana's recent price action has been marked by a pullback in the short-term momentum, with the token trading around $116.95 on September 29, down roughly 1.6% on the day.
This decline comes after a strong September recovery that lifted Solana from below $100 to above $120 in less than two weeks.
The immediate level to watch is $120, which SOL briefly pushed above last week but struggled to turn into reliable support.
However, institutional demand remains one of the clearest bullish catalysts, with Solana ETFs attracting a record $188 million in inflows last week, led by Bitwise's $128 million contribution.
Additionally, Solana's underlying network picture remains constructive, with stablecoin balances reaching a record $17 billion and broader activity around tokenized assets continuing to expand.