Solana Shatters 9-Month Downtrend, Eyes $120 as ETF Inflows Hit $39M

Solana (SOL) has shattered a 9-month downtrend, trading in the $93–$97 range with a recent high near $97, as bulls target $120 amid surging institutional demand. From May 3 lows of $83–$84, SOL broke a symmetrical triangle on May 7 with $17M short liquidations and a 79% volume spike past $90. It peaked at $96.85 on May 11, reclaiming its 100-day SMA after 205 days, fueled by $39.23M weekly ETF inflows, 67,648 SOL ($6.23M) whale buys, 250M USDC mint, Alpenglow upgrade news, and open interest rising 29.5% to $6.4B. Bullish MACD/RSI support $100+ if $97 holds, despite RSI divergence risks.