Solana Price Eyes Rally To $320 As SOL ETF Inflows Rise

Crypto analyst Inmortal recently suggested that the Solana price is primed for a rally as institutional interest continues to build. This positive analysis is happening as Solana ETF applications from major financial institutions, including Grayscale, VanEck, 21Shares, Canary, and Franklin Templeton, progress toward potential approval.

SOL ETF anticipation drives institutional interest

The prospect of spot Solana ETFs is generating substantial institutional interest, and prediction markets are showing a jump in confidence in regulatory approval. According to Polymarket data, the odds of the U.S. Securities and Exchange Commission approving spot SOL ETFs have risen to 82%. The Solana price can go up quite a bit if this happens earlier or later.

Some significant financial institutions have applied for Solana ETFs. Some such institutions include Grayscale, VanEck, 21Shares, Canary, and Franklin Templeton. Such demand from leading asset managers indicates robust institutional demand for regulated investment products of Solana.

Users can already witness proof of that demand in the performance of the 2X Solana ETF (SOLT), a leveraged ETF that has been adding new money steadily since its launch in February. As per the ETF data, the ETF has added almost $30 million in new money and has not experienced a single month where money has flowed out more than money has flowed in since it started.

SOLT monthly inflow statistics reveal that there are more investors eager to buy it: $5.5 million in February, next $8.3 million in April, and $9.6 million already this month. This trend of increasing inflows shows that investors are becoming increasingly optimistic in the Solana price’s trajectory.

Solana price could target $320

Solana’s current price movement is a part of a broader recovery effort following its all-time high of $293.31 reached on January 19, 2025. In the four months since that peak, SOL has been working to reclaim lost ground. The SOL price is currently sitting approximately 41.5% below that record level.

The recent Solana price action indicates positive signs of strength developing across various time horizons. While the 24-hour and 7-day advances are modest at 1.4% each, the trends across the medium term indicate more expansion through a 32.8% advance in the past month.

This climbing growth rate across progressively longer timeframes suggests a strengthening uptrend rather than a short-term fluctuation. If this pattern continues, it provides technical support for the potential move toward the $320 target identified by analyst Inmortal.

The chart pattern shows that after the January peak, SOL experienced a correction before establishing a base and beginning its current recovery phase. The recent price action shows the Solana price finding support at previous resistance levels. This is a classic technical pattern that often precedes continued upward movement.

As SOL approaches the $180 resistance level identified by analyst Inmortal, the coming weeks could decide whether the recovery accelerates toward the projected $320 target. Also, as FTX prepares a $5 billion payout, a CoinGape market analysis has identified $170 and $161 as the Solana price levels to watch.