Solana price enters bull market territory as sentiment shifts
Solana (SOL) has entered bull-market territory after a roughly 27% rebound last week, with the token trading near $94 on Monday while holding above its 50- and 200-day exponential moving averages. Renewed ETF inflows and a sharp sentiment shift have traders asking whether solana price can break above $100.
Key Takeaways
- SOL rallied about 27% last week to a two-month high before edging lower to roughly $94 on Monday.
- SOL-focused ETFs recorded four consecutive days of inflows totaling $28.34 million, the highest two-month total per SoSoValue data cited by FXStreet.
- Validators began voting Monday on SGP 1-3 proposals covering network governance, disinflation, and fee-burn mechanics, with voting set to end Thursday.
- The Crypto Fear and Greed Index jumped from near 36 to about 76, signaling a rapid sentiment reversal per Yahoo Finance.
- A decisive daily close above $100 could open a path toward $112.52; near-term support sits near the 200-day EMA at $92.67.
Why did Solana price enter bull market territory?
Solana's latest move reclaimed key technical levels that analysts have been watching for months. According to Yahoo Finance, SOL broke above its 200-day EMA and cleared former supply zones around $78 and $90 during the rally.
On-chain signals added to the bullish case. A crossover between the 30-day and 50-day moving averages for daily active users anticipated the move, a pattern that preceded a sustained uptrend in mid-2025.
Broader market mechanics also played a role. August 18 saw roughly $2.9 billion in daily crypto liquidations—the eighth-largest event on record—which helped fuel momentum as short positions were forced to cover.
How are ETF inflows and governance votes shaping SOL?
Institutional demand appears to be returning. FXStreet reported that SOL-focused exchange-traded funds logged $28.34 million in net inflows over four straight trading days last week, the strongest weekly total in two months.
At the same time, Solana validators started voting on three governance proposals. SGP 1 addresses ratifying the Solana Constitution for network-level decision-making. SGP 2 proposes accelerating disinflation by raising the rate to between -15% and -30%. SGP 3 would introduce a fixed base inclusion fee and a resource fee that gets burned.
Together, the proposals could restructure on-chain governance and reduce pressure on token supply—a combination that traders are weighing alongside the ETF data. For more context on altcoin momentum, see our Fintech & Crypto Alerts hub.
Can Solana price break above $100?
That is the central question for short-term traders. FXStreet noted SOL remains capped below the $100 psychological barrier and the May 11 high of $98.41, even as it holds a bullish bias above the 50-day EMA at $79.04 and the 200-day EMA at $92.67.
Momentum indicators support the bullish case but warn of fatigue. The daily RSI hovered near 79 in overbought territory, while the MACD showed a positive histogram and steady upward trend.
A confirmed daily close above $100 could target the 127.2% Fibonacci extension at $112.52. Robinhood prediction markets list a related SOL price event for Aug. 28, 2026, with a reference target near $101.70—roughly in line with the breakout scenario traders are watching.
What happens if Solana pulls back from here?
Not every analyst expects a straight line higher. Yahoo Finance flagged increasing selling pressure, including a large upper wick on the daily candle, and suggested a normal profit-taking pullback could reach the $83 area while RSI cools off from overbought levels.
On the downside, FXStreet identified initial support at the 200-day EMA near $92.67, followed by the 78.6% retracement near $88.56. Deeper declines would expose the 50-day EMA at $79.04 and the 50% retracement at $76.92.
Even with pullback risk, the sentiment shift—from fear toward greed—has reframed Solana's outlook. Whether SOL holds above $92.67 and clears $100 will determine if this rally marks a lasting trend reversal or a temporary spike.