Solana Price Prediction – SOL Eyes $106 Mark Amid Rising Institutional Demand

Highlights:

• Solana price has broken out to the $94 zone, as the bulls show renewed interest.
• The SOL ETFs have recorded an inflow of $17 million, indicating growing investor demand.
• The technical outlook shows SOL eyes the $106 mark, if the support zones hold.

Solana price is beginning to show signs of hope as it trades at $94. The altcoin has broken out of the main support levels on the 4-hour chart. The recent price movement of SOL is facilitated by institutional demand as spot Exchange Traded funds (ETFs) inflows were over $17 million. Moreover, recent advances in on-chain market and derivatives data indicate that SOL is preparing for an upward move soon.

According to SoSoValue data, spot SOL ETFs recorded an inflow of $17.81 million on Tuesday. This follows a $2.82 million inflow the previous day. The positive flows have marked the fifth consecutive day of inflow since March 10. This underscores the growing interest among investors in the SOL market. 

On the other hand, Solana’s Social Dominance metric has been trending upward since mid-March. It currently stands at 1.36%, the highest level since January 19. This increase reflects growing market interest and investor confidence among SOL investors.

SOL Eyes $106 as Bullish Momentum Builds

The 4-hour SOL/USD chart shows a steady rise within a rising parallel channel, with bulls showing rekindled momentum. At present, SOL is exchanging hands at $94, recovering from a brief dip around $92 earlier in the week. 

There are several critical technical levels in the market for investors to watch. Immediate support is found between $89 and $85. If these zones hold firm, reinforced by SOL ETF inflows, further upside may be imminent in Solana. On the other hand, the immediate resistance lies between $106 and $128. If the price rises above $106, a move to $128 becomes likely, and then possibly to $147 or higher.

The Relative Strength Index shows intense buying appetite. Recently, the RSI reads at 60.42, though slightly below the RSI-based MA at 66.46. Its position at 60 is an area known for buying momentum, suggesting any continued upside could see SOL hit an overbought region. 

Meanwhile, a popular crypto analyst, Ali Martinez, has noted that a short squeeze is about to happen in the Solana market. This comes as the Solana price reclaimed the $93.14 mark, flipping a 39-day distribution zone into a structural floor. Further, Ali says the next target zones could be $102 and $113, if the $93.14 zone holds.

Solana $SOL short squeeze is about to happen!

While the crowd was waiting for lower prices, Solana just reclaimed $93.14, flipping a 39-day distribution zone into a structural floor. If this level holds, a bull rally could happen much faster than people think.

Target 1: $102.67… pic.twitter.com/dhLzBqMCtb

— Ali Charts (@alicharts) March 18, 2026

If the current trend holds, Solana price could stage a rapid move toward $106 and $128 over the coming weeks. However, traders should watch for short-term selling if the price fails to hold above the $89 key support zone. This will see SOL dip to the $85 zone, which could offer opportunities for patient buyers. However, a decisive break below $85 would signal a need for caution for the SOL investors.​​