SOL ETF draws 264 million in monthly gold, with technical forks pointing at $150

According to Woofun AI, Solana (SOL) broke through strongly in the macro context of the overall rebound in the cryptocurrency market. Its core driving force stemmed from strong demand for spot SOL ETFs and a surge in capital in the pledge business, which drove the price to soar 102% from its low point during the year and break through the key resistance level.

The continued influx of institutional funds is the cornerstone of this round of the market. Over the past six days, the SOL ETF maintained a continuous net inflow, attracting $264 million in a single month, setting a record for positive inflows for the third consecutive month. Up to now, the cumulative net inflow of such funds has exceeded US$16.1 billion, with total assets exceeding US$1.96 billion.

According to data compiled by Woofun AI, the BSOL ETF launched by Bitwise led the way with an asset size of 1.36 billion US dollars, followed by giants such as Fidelity, Grayscale, Morgan Stanley (NYSE: MS), and VanEck, which together built a deep institutional position base.

The prosperity of the on-chain ecosystem has further consolidated value support. As investors' long-term commitment increased, the SOL staking ratio climbed to nearly 70%, and the annualized yield was 5.04%. The market capitalization of the staking market expanded from $42 billion on September 16 to $54 billion.

Meanwhile, the market capitalization of stablecoins within the Solana network increased to $16.7 billion, and RWA (real world assets) market capitalization reached $2.45 billion. This performance resonates with the macro market: Bitcoin (CRYPTO: BTC) rose from $57,000 in July to over $84,000, the total global cryptocurrency market capitalization surpassed $2.8 trillion, and Solana's position as the top public chain is stable.

Technical signals clearly point to higher prices. The TradingView chart shows that SOL has formed a bullish flag pattern of vertical lines and a descending channel, and has broken through the $110 key resistance level, which was the high on August 28.

Furthermore, the price pattern shows an inverted shoulder pattern, and the 50-day moving average has crossed the 200-day moving average to form a gold fork. Under multiple technical resonances, the bulls are targeting the $150 psychological barrier, which, if achieved, will increase by 25% of the current price.