Solana's 20% Surge Triggers $150 Target Speculation Amid Institutional Demand

Solana (SOL) has surged nearly 20% in September, trading around $120 and prompting analysts to watch for a potential move toward $150 and beyond.

According to analyst Ali Martinez, institutional demand for Solana remains strong, with spot U.S. Solana ETFs recording 11 consecutive weeks of net inflows, totaling approximately 4.37 million SOL, worth around $450 million.

Despite this, the Relative Strength Index (RSI) has moved above 70, indicating a possible short-term pullback before another attempt at higher levels.

The $20.2M long bet on SOL by an anonymous trader has also garnered attention, with the trader reportedly having a 100% win rate and generating around $4.7 million in profits.