Solana Rallies 3.8% to $102.48 as Morgan Stanley Trust Filing Signals Institutional Demand

Solana surged 3.8% to $102.48 in 24 hours on September 11, driven by Morgan Stanley’s SEC filing for a spot Solana Trust that creates direct institutional exposure to the asset. The move reflects broader crypto sector confidence, though ETF outflows across Bitcoin, Ethereum, and Solana suggest profit-taking pressure remains. Token issuance hit an all-time record of 263,000 tokens in a single day, underscoring surging network activity.

Why Solana jumped on Morgan Stanley’s institutional bet

Morgan Stanley filed for a spot Solana Trust with the SEC, creating a direct vehicle for wealth clients to gain exposure without custody complexity. Bank of America simultaneously cleared a 4% crypto allocation for wealth clients, and Goldman Sachs upgraded Coinbase, signaling institutional confidence across the sector. These moves lower barriers to entry for large capital flows into Solana.

What the technical indicators reveal about the rally

Solana’s RSI sits at 60.06, well below overbought territory (70+), leaving room for further upside. The ADX reads 44.77, confirming a strong trend. Price trades at $102.48, above the 50-day average of $86.34 but below the upper Bollinger Band at $116.21, suggesting the rally has more runway before hitting resistance.

Network activity hits record as Pump.fun drives DEX volume

Solana minted 263,000 tokens in one day, an all-time record that reflects accelerating user growth. Pump.fun now drives 40% to 67% of daily Solana DEX transactions, concentrating activity on the network. This surge in on-chain activity supports the price move and suggests growing developer and trader engagement.

Solana forecast points to 25.9% upside within one month

Meyka’s one-month forecast targets $129.01, implying 25.9% upside from the current $102.48 price. The 12-month forecast reaches $166.90, a 62.9% gain. However, ETF outflows of $449M across Bitcoin, Ethereum, and Solana in three days signal profit-taking headwinds that could pressure near-term momentum. Forecasts may change due to market conditions, regulations, or unexpected events.

Final Thoughts

Solana’s 3.8% rally reflects institutional tailwinds from Morgan Stanley and Bank of America, paired with record on-chain activity. The technical setup remains bullish with RSI at 60 and price above key moving averages, but ETF outflows warrant caution on near-term pullbacks.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.