Solana rallies 19% to $91 as ETF inflows surge and US Treasury action boosts liquidity

US Treasury action injects liquidity

The US Treasury Department announced it would double its buyback operations for long-term Treasury bonds, increasing the minimum purchase amount from $2 billion to $4 billion per operation. This step was designed to enhance market liquidity and support broader risk appetite, with digital assets like Solana benefiting from the renewed investor confidence.

The market response was swift. On Wednesday, SOL posted a double-digit percentage gain in a single day, recovering from recent sideways trading and breaking above the $80 resistance zone for the first time in several weeks.

Institutional inflows and ETF momentum

Institutional participation in Solana also intensified. According to data from SoSoValue, SOL spot exchange-traded funds recorded net inflows totaling $14.58 million on Thursday, marking the highest single-day inflow since late July. This extended the positive momentum, with SOL-focused ETFs attracting new capital for a third consecutive day.

Interest from institutional investors has traditionally signaled growing confidence in Solana’s long-term prospects, further reinforcing the recent price action.

Mini dictionary: SoSoValue, a cryptocurrency market data platform that provides comprehensive tracking of asset flows into products like ETFs across exchanges and regions.

Derivatives market activity accelerates

Trading activity spiked in Solana’s derivatives markets. Futures volume soared 177% to reach $13.7 billion, while open interest grew by roughly 7.9% to $5.66 billion. Options volume also jumped by over 400%. These figures reflect growing involvement from sophisticated market participants, signaling broader conviction beyond retail enthusiasm.

Market analyst Ash Crypto described this as Solana’s strongest daily close in three months, highlighting how the performance stands out within the wider cryptocurrency rebound.

Solana reached its highest daily close in three months, a notable achievement against the backdrop of a recovering crypto market.

For several weeks, SOL’s price traded in a narrow corridor between $70 and $80, with persistent selling stifling upward momentum. The decisive breakout past resistance at $78–$80 and extension to $91 represented a meaningful structural shift in the token’s market outlook.

Key technical levels

Solana now tests the 200-day exponential moving average (EMA) positioned near $89. The Relative Strength Index (RSI) reads near 79, suggesting overbought conditions, while the Moving Average Convergence Divergence (MACD) continues to signal bullish momentum. Immediate support is showing at the 50-day and 100-day EMA, located at $76.91 and $78.63, respectively.

If bullish momentum continues and the price clears resistance at $96.19, Solana could target the $98–$100 zone. Should sellers regain control, a drop below $80 may lead to a retest of the $70–$72 range. After this week’s peak at $91, SOL trades close to $89, maintaining position above its 200-day EMA.