Solana’s SOL Surges to $191 Amid $11M Short Liquidations and $39M Institutional Inflows

Solana’s native token, SOL, climbed to $191.56 on Monday, extending its bullish momentum as over $11 million in short positions were liquidated and institutional interest intensified. The token posted a 6.55% gain in the past 24 hours, fueled by both on-chain activity and fresh fund inflows.

Data from Solana analytics platform SolanaFloor shows that short sellers were caught off guard as SOL surged past the critical $190 level. The largest individual liquidation occurred at $188, totaling $1.13 million, underscoring the aggressive bearish bets wiped out by the rally.

Institutional demand for SOL also gained traction. According to CoinShares’ Digital Asset Fund Flows Weekly Report released Monday, Solana-related funds attracted $39 million in inflows for the week ending July 19, signaling growing confidence from professional investors.

Crypto analyst DonAlt shared his view on X, noting that while he still favors Ethereum, Solana’s chart points to a potential breakout. He suggested that if SOL can sustain momentum above key resistance, it could surpass previous all-time highs.

Technical Highlights:

• From July 20 at 09:00 UTC to July 21 at 08:00 UTC, SOL rose 5.01%, climbing from $180.77 to $189.82, per CoinDesk Research data.
• The trading range spanned $178.08 to $190.77, a 6.65% range.
• Support formed around $178.30, with a volume spike to 2.27 million at 22:00 UTC on July 20.
• SOL broke above resistance at $183.20 early on July 21, with volume staying above the daily average of 1.29 million.
• In the final hour of trading, SOL moved from $189.26 to $189.70, reaching a session high of $190.77 before slight profit-taking occurred.

With short positions being squeezed and institutional inflows rising, Solana’s SOL appears set to continue its upward trajectory if it holds above the $190 threshold.