Solana (SOL) Reclaims $100: Is It Time for a Parabolic Rally?

"Looking good as long as that $98 level is being held," one popular X user claimed. Solana’s native token has posted an 8% increase over the past 24 hours, prompting analysts to make highly bullish bets for the near future. At the same time, some remain cautious, projecting potential double-digit declines, while certain factors reinforce the pessimistic thesis. SOL’s Bullish Targets Just a few hours ago, the asset’s price briefly exceeded $105, marking the highest point since early February. Currently, it trades at around $104, which translates into a solid 42% pump on a monthly scale. SOL’s strong performance appears to stem from a blend of bullish factors working together. The most obvious one is the broader market resurgence driven by monetary policy changes in the US, among other reasons. Another element is the rising institutional interest, with spot SOL ETFs registering seven consecutive green days: something last observed in May this year. Spot SOL ETFs, Source: SoSoValue Next on the list is the return of some of the big players. Analytics platform Lookonchain revealed that a smart trader (who has been inactive in the past two years) has purchased almost 96,000 SOL for nearl...