Solana tests $100 support level amid rising ETF inflows

Solana (SOL) is currently navigating a critical technical period, trading near the $100 psychological threshold. While the asset has faced short-term selling pressure and minor corrections, it remains up approximately 1.74% over the past week. Analysts note that the ability to maintain support around $95-$100 is vital for sustaining a long-term bullish trend toward targets such as $125 or $150.

Institutional interest is providing significant support, evidenced by a streak of 11 consecutive days of net inflows into US-listed Solana ETFs. Major providers including Bitwise, Fidelity, and Morgan Stanley have contributed to this trend, signaling sustained demand for regulated exposure to the network.

On the network level, Solana has demonstrated growth in utility, recently overtaking Base in x402 payment protocol activity. The platform also reported approximately $143 million in app revenue for August, accounting for 38% of total on-chain app earnings. Additionally, a proposal to reduce new SOL issuance may accelerate the network's move toward its 1.5% inflation target.