Where Is Solana Price Heading After Breaking Above $120?

Solana price surged to $120.86 on September 25, clearing $120 for the first time since January 29.

The SOL gained 3.56% over 24 hours and 7.61% across the week, according to CoinGecko data. 

Bitcoin hovered near $83,800, Ethereum traded around $2,687, and XRP changed hands near $1.57. The total crypto market was valued near $2.97 trillion, although it edged lower over 24 hours. 

Solana Price Hits $120 for the First Time Since January 29

The move marked another milestone in Solana’s rebound from its June low near $60.39. At current levels, the token has more than doubled from that 2026 trough. It climbed from about $97 in mid-September to above $112 on September 18. 

August’s 41.5% gain helped establish the foundation for September’s latest price advance. Solana then approached $120 earlier this week before finally moving through the threshold.

BREAKING: Solana rises above $120 for the first time since January 29th, now up over +100% from this year’s low.

The crypto rally continues to broaden out. pic.twitter.com/zVlElJKc5J

— The Kobeissi Letter (@KobeissiLetter) September 25, 2026

That sequence shows momentum building in stages rather than through one isolated jump. Holding above $120 would strengthen the case that the former ceiling has become short-term support.

Solana ETFs Draw $32.81 Million in Daily Inflows

United States spot Solana ETFs recorded $32.81 million in net inflows on September 24, the latest completed trading session. Bitwise’s Solana Staking ETF, BSOL, accounted for $27.97 million, while Fidelity’s FSOL attracted $4.84 million. Combined fund assets reached approximately $1.81 billion, according to SoSoValue data.

Historical net inflows across the funds totaled $1.52 billion after Thursday’s additions. Those purchases show continuing interest in regulated Solana exposure as the token approaches a significant price level.

How High Can Solana Price Go?

Solana price faces an immediate test around $122 to $123, where short-term resistance may slow further gains. A sustained move through that area could put $130 in focus as the next target. That outcome depends on Long-term SOL projection keeping the $120 breakout intact and broader market conditions remaining supportive.

The relative strength index is at 61, indicating a bullish trend. The MACD stood near positive 1.34, adding to the bullish short-term picture. 

Solana Open Interest Climbs to $7.49 Billion

CoinGlass showed Solana futures open interest near $7.49 billion, compared with roughly $6.57 billion in early September. That represents an increase of about 14%, indicating more outstanding derivatives positions as the price recovered. Futures trading volume reached approximately $11.76 billion over 24 hours, versus $9.38 billion in early September.

CoinGlass also recorded roughly $21.43 million in liquidations over 24 hours. Higher leverage can amplify either a continued push toward $130 or a sharp retreat beneath $120.