TLDR
- SOL surged over 19% this week, hitting a high of $91
- US Treasury doubled buyback operations, boosting risk appetite across crypto markets
- SOL ETFs recorded $14.58M in inflows on Thursday, the highest single-day figure since late July
- Futures volume jumped 177% to $13.7B, with open interest climbing to $5.66B
- The 200-day EMA at ~$89 is the key level; a sustained break above it opens the door to $96–$100
Solana has had a strong week. SOL climbed more than 19%, hitting a high of $91 before pulling back slightly to trade around $89. The move comes as broader crypto markets responded positively to a liquidity-friendly announcement from the US Treasury.
The US Department of the Treasury said it would double the size of certain buyback operations for longer-dated Treasury securities, raising them from $2 billion to at least $4 billion per operation. That signal eased liquidity concerns and pushed risk appetite higher across financial markets, including crypto. SOL jumped over 10% on Wednesday alone as a result.
Institutional demand has followed the price higher. SoSoValue data shows SOL spot ETFs recorded $14.58 million in net inflows on Thursday. That was the highest single-day figure since the end of July and marked three straight days of positive inflows.
Derivatives Activity Points to Serious Repositioning
The breakout has not been driven by retail momentum alone. Solana futures volume surged to around $13.7 billion, a rise of roughly 177%. Open interest climbed about 7.9% to $5.66 billion. Options volume rose more than 400%. These numbers suggest traders are actively repositioning, not just chasing a broader market rally.
Crypto analyst Ash Crypto noted on X that SOL just posted its highest daily close in three months, highlighting how the weekly move stands out even against the broader market recovery.
$SOL just gave its highest daily close in 3 months 🚀 pic.twitter.com/EhoM1Rrowi
— Ash Crypto (@AshCrypto) August 20, 2026
SOL spent several weeks in a compressed trading range between $70 and $80, with sellers capping each recovery attempt. The breakout through $78–$80 resistance, followed by the push to $91, represents a clear shift in that structure.
Key Levels to Watch
From a technical standpoint, Solana is pressing against the 200-day EMA, which sits around $89. The RSI is near 79, in overbought territory, while the MACD remains positive. The 50-day and 100-day EMAs at $76.91 and $78.63 now act as support below.
The next resistance levels above are $96.19 and then the $98–$100 zone. On the downside, $80 is the key level to hold. A loss of that level would re-expose the $70–$72 range.
SOL hit a session high of $91 this week and is currently trading around $89, holding above the 200-day EMA.