Solana Surges Toward $100 After $4.6B Short Squeeze

Overview

• More than $4.6 billion in short positions were liquidated over a three‑day period, with roughly $2.9 billion wiped out on Aug. 18 as forced buy orders pushed price sharply higher.
• SOL rallied about 25% over the past week and reclaimed the $90 level, with price testing the $95–$100 upper boundary of a 202‑day accumulation range that traders view as the breakout decision point.
• On‑chain signals flipped bullish as the 30‑day and 50‑day moving averages for daily active users crossed again, a pattern that previously preceded a large multi‑month rally for Solana.
• Institutional cues also improved: nearly $38 million of net inflows into Solana‑linked ETF products were recorded and the SEC’s new regulatory framework proposal is being cited as a factor re‑engaging capital.
• Short‑term risks are elevated because momentum indicators show overbought conditions and trading volume spiked; analysts say a pullback to $83–$90 would be a normal retest while a sustained hold above $95–$100 could open targets in the mid‑$120s and beyond.