Solana $SOL Reclaims $150 Amid Bullish Momentum and ETF Optimism

Solana has reclaimed the $150 level in the current session, gaining nearly 3% as it eyes a potential bullish breakout. After plunging to an intraday low of $140 on Wednesday, SOL found strong support near the 20-day Simple Moving Average (SMA), triggering a rebound above $150. On-chain indicators remain bullish, with Solana’s stablecoin market cap surging to $13 billion signaling increased network usage and growing investor interest.

Investor sentiment received another boost following a Bloomberg Intelligence report suggesting a 90% likelihood of U.S. regulatory approval for a Solana spot ETF. This optimism is fueled by filings from six major asset managers Grayscale, VanEck, 21Shares, Canary, Bitwise, and Franklin who are seeking to launch SOL-based ETFs.

Weekly Price Overview

SOL began last week in negative territory, slipping nearly 1% to $137. However, it rebounded sharply on Tuesday, rallying almost 9% to close at $148. The bullish momentum continued on Wednesday, with a 1.59% gain taking SOL to $151. On Thursday, SOL dropped to an intraday low of $145 but bounced back, rising nearly 1% to reclaim $150 and settle at $152.

Friday brought some weakness as SOL briefly touched $156 before losing steam, falling over 1% to close at $150. The bearish trend extended into the weekend, with SOL dipping 1.08% on Saturday and 0.84% on Sunday to settle at $148. The downtrend continued on Monday and Tuesday, with SOL dropping to $147 and then $146, respectively. On Wednesday, selling pressure pushed SOL to a weekly low of $140, but a quick rebound helped it close at $147, posting a modest 0.81% gain.

In today’s session, SOL has climbed back to $151. If bulls maintain momentum and break past the $155 resistance zone, the next leg higher could take Solana toward $160 and beyond, especially amid strengthening fundamentals and growing ETF optimism.