Solana Price Surges to Two-Month High as Institutional Demand Picks Up

Solana's SOL token has been on a tear lately, surging by 27% last week to reach its highest level in two months. In the last 24 hours, it's up another 1%, trading above $94 on Monday.

The bullish near-term structure remains intact as SOL trades above its major moving averages. Institutional demand has also picked up, with Solana-focused ETFs seeing their highest weekly inflow total in two months at a combined $28.34 million last week.

However, the rapid price increase has pushed momentum indicators into overbought territory, suggesting that SOL could consolidate before attempting a sustained breakout above $100.