Key TakeawaysSolana rallied nearly 20% over the past week, reaching $91 before consolidatingThe US Treasury’s decision to double buyback operations injected liquidity into markets, supporting crypto risk appetiteSpot SOL ETFs attracted $14.58M in net inflows on Thursday, marking the strongest single-day performance since late JulyDerivatives markets saw explosive activity: futures volume soared 177% to $13.7B and open interest rose to $5.66BTechnical focus is on the 200-day EMA near $89; a clean breakout could target the $96–$100 zoneSolana has delivered an impressive weekly performance. The SOL token rallied over 19%, touching $91 at its peak before settling near $89. This rally coincides with renewed optimism across cryptocurrency markets following a market-friendly policy shift from the US Treasury.Solana (SOL) PriceThe catalyst came when the US Treasury Department announced it would expand buyback operations for longer-maturity Treasury bonds, increasing the size from $2 billion to a minimum of $4 billion per operation. This move addressed liquidity concerns and encouraged greater risk-taking across global markets, including digital assets. Solana responded with a 10%+ surge on Wednesday alone.Institutional interest has accelerated alongside the price action. According to SoSoValue tracking data, SOL spot exchange-traded funds pulled in $14.58 million in net inflows on Thursday. This represents the largest single-day accumulation since late July and extends a three-day streak of positive flows.Derivatives Markets Signal Strong ConvictionThis rally isn’t just retail-driven hype. Solana futures trading volume exploded to approximately $13.7 billion, representing a 177% increase. Open interest expanded by roughly 7.9% to reach $5.66 billion. Options volume skyrocketed by over 400%. These metrics indicate sophisticated traders are making substantial position adjustments rather than simply riding market momentum.Market analyst Ash Crypto pointed out on X that Solana just recorded its strongest daily close in three months, emphasizing that this weekly performance is notable even within the context of the broader crypto market rebound.$SOL just gave its highest daily close in 3 months pic.twitter.com/EhoM1Rrowi— Ash Crypto (@AshCrypto) August 20, 2026For weeks, SOL remained trapped in a tight range between $70 and $80, with consistent selling pressure preventing upward progress. The decisive move through the $78–$80 resistance zone, followed by the extension to $91, marks a significant structural change in market dynamics.Critical Price Levels AheadTechnically, Solana is currently testing its 200-day EMA, positioned around $89. The Relative Strength Index sits near 79, indicating overbought conditions, though the MACD continues to flash bullish signals. Immediate support has formed at the 50-day and 100-day EMAs, located at $76.91 and $78.63 respectively.Source: TradingViewLooking ahead, bulls need to clear resistance at $96.19 to unlock the $98–$100 target zone. Should bears regain control, $80 represents the critical support level. A breakdown below that threshold would likely retest the $70–$72 range.After peaking at $91 during this week’s session, SOL is currently changing hands around $89, maintaining its position above the 200-day EMA.The post Solana (SOL) Rallies 19% to $91: ETF Inflows and Treasury Boost Fuel Rally appeared first on Blockonomi.