TLDR
- Solana is trading above $94, up 27% last week and at its highest level in two months.
- SOL-focused ETFs recorded four straight days of inflows totaling $28.34M.
- Validators are voting on three proposals (SGP 1, 2, 3) through Thursday.
- Two proposals could reduce SOL supply by speeding up disinflation and increasing daily fee burns.
- SOL needs a daily close above $100 to target the next resistance at $112.52.
Solana is trading above $94 on Monday, up around 1% in the last 24 hours and 27% over the past week. That puts SOL at its highest price in two months.
The rally has pushed the token above both its 50-day EMA at $79.04 and its 200-day EMA at $92.67. Both levels now act as support.
Immediate resistance sits at the May 11 high of $98.41, followed by the round-number level of $100. A daily close above $100 would open the path toward $112.52.
$SOL hitting somewhere around $600 to $800 this cycle doesn’t sound impossible to me at all.
— David Gokhshtein (@davidgokhshtein) August 23, 2026
The 4-hour RSI is near 64, close to overbought territory. The MACD remains positive, showing buyers are still in control, but the pace of the rally raises the chance of short-term consolidation.
Validator Voting Could Reduce SOL Supply
Solana validators began voting Sunday on three governance proposals, with results expected by Thursday at approximately 15:30 UTC. Votes are weighted by staked SOL.
Solana Validator Governance
Voting is now live for SGP 1, SGP 2, and SGP 3.
– SGP-0001: The Solana Constitution
– SGP-0002: Double Disinflation
– SGP-0003: Resource and Inclusion FeeVoting lasts until the end of epoch 1023 (Thursday at approximately 15:30 UTC).
See the…
— Solana Developers (@solana_devs) August 23, 2026
SGP-0001 ratifies the “Solana Constitution,” a formal document that sets out how network decisions are made. This proposal switches on the software that runs future votes.
SGP-0002 proposes doubling the disinflation rate from 15% to 30% per year. This would slow the creation of new SOL tokens, reaching the supply floor faster.
SGP-0003 restructures transaction fees. A fixed portion goes to block producers, while a variable portion based on computing resources is permanently burned. This could raise daily SOL burns from around 650 SOL to between 7,500 and 9,000 SOL — worth up to $846,000 at current prices.
There is an unusual sequencing issue. SGP-0001 formally establishes the voting system, yet SGP-0002 and SGP-0003 are being voted on simultaneously through that same system.
ETF Inflows Add to Buying Pressure
SOL-focused ETFs recorded four consecutive days of inflows last week, pulling in a combined $28.34 million. That was their strongest weekly total in two months, according to CoinGlass data.
The inflows coincided directly with Solana’s 27% price rebound. Sustained institutional buying could support further upside, though one week of positive flows does not confirm a lasting trend.
Crypto analyst Ivan on Tech commented on the move, stating on X that SOL had “flipped bullish for the first time since Q4,” calling it a bullish signal and suggesting the move could open the door to gains in smaller Solana-based tokens.
$SOL FLIPPED BULLISH FOR THE FIRST TIME SINCE Q4!!!!
VERY VERY BULLISH – LETS RIDE BACK TO $300 AND ABOVE
(but most importantly this unlocks the door to all the small SOL shitters that will be flying and flying making us so much money this bull) GOOOOD TIMES AHEAD pic.twitter.com/8GcRDdbNIW
— Ivan on Tech 🍳📈💰 Head Trader @ Bullmania (@IvanOnTech) August 24, 2026
SOL was trading above $96 early Monday, up 1.6% over the past 24 hours.
