Can Solana break $120? Examining the battle between SOL ETF inflows and profit-taking

SOLUSD — mixed, with a conditional bullish bias. The article reports $73 million in spot-ETF inflows over two sessions, alongside elevated exchange inflows and profit-taking as SOL approached $119. ETF demand could provide a steadier source of buying, but exchange deposits may add near-term supply; deposits are not proof that holders have sold.

The key test is whether ETF demand continues and absorbs selling pressure. If it does, a sustained move above $120 could strengthen momentum; if inflows fade while exchange deposits remain elevated, the rally may stall or retrace. The report’s cited indicators and higher price targets are interpretations, not confirmation of a breakout.

Monitor:

daily ETF net flows, exchange flows and whether SOL can hold above $120. The article’s price and flow figures are from September 22, 2026, so they should be treated as a snapshot rather than current market data.