Solana (SOL) price declines 0.85% despite its bullish outlook, as heavy whale long positions and consecutive inflows into U.S. spot Solana ETFs point to sustained demand and potential preparation for the next leg higher.
The bullish sentiment around Solana (SOL) is intensifying as whale and institutional interest continues to grow amid the ongoing market recovery. Over the past 24 hours, several bullish developments have emerged, including whales betting heavily on long positions, U.S. spot Solana ETFs maintaining their inflow streak, and an analyst making a bold price prediction.
Recently, a well-followed crypto analyst shared a post on X disclosing that a whale who previously made $4.70 million in profit has again opened a massive long position worth $20.20 million.
Not only that, another whale wallet address, “0x9c6s,” appears to be holding an unrealized profit of over $23 million, as disclosed by crypto transaction tracker Lookonchain.
According to the shared report, this whale opened a 20x long position on 550,087 SOL worth $67.88 million a month ago. The whale’s decision to hold the position despite the massive unrealized profit suggests strong upside potential for SOL.
Alongside the bullish outlook among whales, Wall Street investors appear to be following a similar trend. As per a report by analytics platform SoSoValue, U.S. spot Solana ETFs have recorded 15 straight days of inflows, suggesting sustained institutional demand. Meanwhile, on the weekly time frame, Solana ETFs recorded their largest inflow of $188.22 million, the highest since November 2025.
Together, these developments suggest that both crypto and traditional investors are returning to the market, potentially signaling renewed interest in a price increase.
Beyond that, there’s one more factor supporting SOL’s bullish outlook: the network’s growing dominance in tokenized commodities trading. Recently, a well-followed analyst shared a report stating that Solana has taken the lead in tokenized commodities trading.
As per the report, last week, the network handled a huge $91.10 million in spot trading volume, capturing 28% of the market and overtaking Robinhood for the first time.
Despite all these bullish developments, the asset’s price remains sideways. At press time, SOL was up 0.9% over the past 24 hours at $119.28. During the same period, the asset’s trading volume declined 5.10% to $3.40 billion.
That said, SOL’s price may approach the $118.50 level. This level previously acted as key resistance but has now turned into support, as the asset broke above it and closed the daily candle above this level on September 25, 2026.
Looking at the daily chart, SOL appears to be retesting the breakout level and potentially preparing for the next leg up. Based on the current price action, if the asset remains above the $118.50 level, its bullish outlook remains intact. In this scenario, SOL could see a strong upside move, potentially gaining 25% and reaching the $148 level.
On the other hand, if SOL fails to sustain the $118 level, its bullish outlook could be invalidated. In this scenario, the asset could potentially see a sharp downside move and may fall to the $97 level.
At press time, SOL trades above the 200-day Exponential Moving Average (EMA), indicating that the asset continues to maintain a bullish long-term trend. Meanwhile, the asset’s Average Directional Index (ADX) reads 44.11, above the key threshold of 25, suggesting that the current trend has strong momentum.
Amid the current price action and continued ETF inflow streak, a prominent crypto expert predicted that institutional demand continues to absorb Solana, with the next leg higher potentially reaching $150.
When combining all these bullish developments, SOL appears to have strong long-term potential. However, the current price decline and sideways momentum suggest an ongoing correction or potential preparation for a price rally.
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