After falling briefly below $100 in mid-September as it became evident that the CLARITY Act is not coming in the foreseeable future, Solana (SOL) price enjoyed a strong recovery, and one trading expert sees mounting evidence for a rally to $150.
Specifically, the popular on-chain analyst Ali Martinez reiterated his assessment that a SOL breakout is incoming in a September 29 X post, while citing spot exchange-traded fund (ETF) flows.
According to the trading expert, SOL ETFs saw 11 consecutive weeks of net inflows, signalling that institutional investors remain willing to absorb the cryptocurrency.
Furthermore, Martinez’s latest X post builds upon his previous analysis and adds to the weeks-old bull case.
Why Solana has been positioning for a SOL price rally to $150 since mid-September
Indeed, as far back as September 15, the blockchain analyst outlined the four key metrics leading him to conclude that Solana is preparing for a new and strong rally.
At the time, Martinez also highlighted the spot SOL ETF dynamics since mid-June, but also emphasized they were playing out as exchange supply was dwindling and the network was growing – September 11 was a record day with 12 million new addresses.
Together with these upward drivers, the analyst explained that Solana was benefiting from strong support close to $100 and, though the level was, at the time, lost, the cryptocurrency quickly recovered, confirming the trading expert’s thesis that the corrections would be short-lived.
Solana price soars 90% since early June
Meanwhile, Solana has been in something of a multi-stage price rally backed by spot ETF inflows since early June, when it hit lows close to $62.
SOL then recorded a 30% 30-day rally that was followed by a limited downtrend and was, yet again, replaced with a 45% upsurge in the last 10 days of August. The most recent leg occurred in the second half of September, and Solana is up roughly 23% in the timeframe.
Overall, the cryptocurrency rose almost 92% – nearly $60 – since June 7, and is, at its press time price of $119.84, just $5 short of where it was trading at the very start of 2026.
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