Solana Targets $145 as Market Sentiment Swings Decisively Bullish

Solana (SOL) is staging a remarkable rally, extending gains into its third consecutive session as multiple market drivers align to suggest a potential breakout above critical resistance. Currently trading near $138.99—up 2.61% over the past 24 hours—the token sits within striking distance of the $145 barrier, a level that has defined its technical ceiling for weeks.

The Institutional Thesis: Capital Is Flowing Back In

The narrative has shifted dramatically from caution to conviction. Solana-focused investment products have absorbed inflows for four consecutive days, with Tuesday alone seeing $16.54 million in fresh capital. For institutional managers, this marks the end of a prolonged period of risk reduction. Instead of fleeing, major players are methodically rebuilding positions, signaling confidence that the worst of the volatility has passed.

This consistency matters. Random daily inflows could be noise; four straight days of sustained buying is institutional positioning.

Traders Are Betting Aggressively on the Upside

Beneath the surface, the derivatives market is flashing unmistakable buy signals. Open interest in SOL futures has surged to $7.26 billion, climbing 2.89% in just 24 hours—and this increase is occurring alongside rising prices. This combination is textbook evidence that fresh money is entering leveraged positions to capitalize on upward momentum.

The sentiment shift is equally compelling. The long-to-short ratio exploded to 52.55% from 44.83% just days earlier, while liquidation data shows $9.64 million in short positions were wiped out versus only $5.20 million in longs over the past day. Traders holding long positions are willing to pay a premium in funding rates (0.0224%) to maintain exposure, a clear sign of risk-on appetite.

Breaking $145: The Technical Inflection Point

SOL’s chart reveals a token at a critical crossroads. Trading consolidation between $121 and $145 has created a well-defined range, and a decisive daily close above $145 would ignite a run toward the 50-day exponential moving average at $152 and potentially the 200-day EMA at $172.

Momentum indicators are cooperating. The Relative Strength Index (RSI) sits at 48—no longer oversold but climbing—while the MACD is recovering from depressed levels. Support remains anchored at $126, with a deeper safety net at April’s lows around $95.

On-Chain Health: The Foundation Strengthens

The network’s underlying metrics reinforce the bullish case. Solana’s total value locked (TVL) has inched higher to approximately $8.984 billion, while stablecoin liquidity on the chain now stands at $15.586 billion. This expanding liquidity ecosystem provides the necessary ammunition for sustained on-chain activity and reduces the risk of sudden capital flight.

The alignment of institutional interest, trader positioning, and technical setup suggests SOL has crossed an inflection point. A break above $145 could accelerate the move higher, while holding $126 preserves the uptrend’s integrity.