Overview
- Solana rose from the mid-$80s to a weekly peak above $102 then pulled back to about $97.50 by Wednesday after roughly a 14% seven-day gain.
- Spot Solana ETFs logged about $65.74 million of weekly inflows, the largest weekly intake for 2026, strengthening institutional demand for the token.
- Validators opened voting on SGP-0003 to separate inclusion fees from resource fees and to burn resource fees if adopted, a change that could increase on-chain SOL burns in periods of heavy network use.
- Technical indicators show strong short-term buying with a daily RSI around 79 and a CoinGlass heatmap revealing dense leveraged short positions clustered near $98.90–$99.10 that could trigger another squeeze if breached.
- Traders are split on the next move with some targeting a continued climb toward $120 while others warn that failure to hold the $98–$103 zone could prompt a correction back to the mid-$80s, making governance outcomes and the $98–$103 range the immediate catalysts.