Key Takeaways
Solana price rises 5.39%, outperforming broader crypto market’s 2.52% gain
ETF optimism grows, with approval odds rising to 90% by late 2025
SOL price trajectory follows BNB which just reached new ATH, says analyst
Solana price rose over 5% in the past 24 hours, driven by growing ETF optimism, institutional inflows, and technical strength. The rally positions SOL as one of today’s top-performing digital assets amid renewed market momentum.
ETF Hype and Whale Accumulation
Solana (SOL) surged 5.39% to $247.34, outpacing the broader crypto market’s 2.52% advance. The rise comes amid increasing speculation around Solana spot ETFs, strategic accumulation by institutions, and a confirmed technical breakout above key levels.
Bloomberg analysts now place a 90% chance of Solana ETF approval by late 2025, following recent SEC engagement with issuers like VanEck and 21Shares. Additionally, the REX-Osprey SOL Staking ETF (SSK) launched on September 18 with $72 million in initial inflows.
Institutional Treasuries Expand to $4.2 Billion
Forward Industries committed $1.65 billion to acquire and stake SOL, while Pantera Capital and Galaxy Digital collectively added $306 million in a single day.
According to data from CoinGecko, total public treasury holdings of SOL are now close to 13.5 million tokens, valued at $3.32 billion.
Technical Breakout, Key Levels to Watch
SOL has broken above its 7-day simple moving average (SMA) at $238.63 and reclaimed the Fibonacci 23.6% retracement at $231.87. Indicators like the MACD histogram (+2.01) and RSI (74.7) suggest strong upward momentum, albeit approaching overbought territory.
Traders are now watching for a move toward the $269.02 Fibonacci extension, while a breakout above $295 could confirm a cup-and-handle pattern, setting up a long-term technical target near $540.
SOL Outlook: Can it Mirror BNB’s Path to a New ATH?
According to Cointelegraph, Solana is showing a classic bullish continuation pattern known as a “cup and handle,” positioning it for a potential breakout to new highs. Analysis also compares SOL to BNB, which recently broke past the $1000 level to achieve a new all-time high.
According to analysts, if the bullish pattern holds, SOL could rise another 20% in the coming weeks, breaking above its all-time high near $295.
