Solana Struggles to Reach $250 Target Despite Rising ETF Demand
Solana (SOL) continues to trade around $121, significantly below the $250 year-end price target set by Standard Chartered analyst Geoff Kendrick. Despite a 40% surge in Solana ETF net inflows in September, reaching $271 million, the token has shown minimal movement since Kendrick's February prediction.
Network validators implemented a policy change on September 26 that doubles the disinflation rate, reducing the speed of new token creation. However, this adjustment does not generate additional market demand. Revenue from decentralized applications on Solana exceeded $100 million for two consecutive weeks, matching levels last seen in August 2025.
Market analyst Sweep noted a recurring price pattern in Solana’s behavior, suggesting the token is currently in an accumulation phase with a possible dip below $110 before the next upward movement. The current circulating supply of Solana tokens totals 588 million coins, with ongoing selling pressure from staking rewards.
Technically, SOL faces significant resistance around the $120 price point, with the Relative Strength Index at 64. A breach of $125 could see the price continue toward $150, while insufficient buying momentum might lead to a retracement into the $110, $115 support zone.