Solana Price Forecast: Potential for a Twofold Increase to Reach New Highs Amid Growing Excitement for ETFs - Some analyses suggest that the price of Solana (Solana-SOL) may be on the verge of a significant short-term increase, as bullish speculators look to push it to re-test its earlier highs recorded this year at around $300, which is double its current levels.
At the time of writing this news, the price of Solana is approaching $150, an increase of more than 55% from its lowest levels recorded in April when it dropped to around $95, marking a series of higher highs on the chart and surpassing the 21 and 50-day moving averages.
The Wednesday rebound at the 21-day moving average confirms the upward trend and suggests the possibility of soon surpassing last week's recorded highs of $157.
The rise in the price of Solana (Solana-SOL) comes alongside a clear recovery in risky assets over the past few weeks, with the price of Bitcoin (BTC) nearing $100,000, and major U.S. stock indices beginning to recover most of their recent declines from their recorded highs in February.
Market prices seem to be evaluated better than what strict trade policies under President Donald Trump require, and it appears that the current positive market sentiment is based more on hopes than on reality; this recovery does not yet align with the decline in U.S. economic indicators, which suggests the possibility of an imminent recession.
BREAKING: Weekly jobless claims jump to 241,000, higher than expected, a sign the economy is sliding toward recession due to Trump’s reckless trade war.
This doesn’t look like a golden age. pic.twitter.com/bp1xN0SFrI
- Republicans against Trump (@RpsAgainstTrump) May 1, 2025
Thus, it is easy to see these gains fading. However, the market seems to have some momentum right now, which bodes well for the price of Solana (SOL) that may also benefit from the media hype surrounding Solana ETFs in the coming months.
Solana Price Forecast: Will it Return to Its All-Time Highs This Summer?
Initially, all technical indicators and market fundamentals in the near term point to an increase in the coming weeks. If U.S. economic data maintains its positivity, this increase could extend for several months to come, which could give the price of Solana a suitable opportunity to re-test its recorded highs of 2025, supported by increasing trader interest in the currency ahead of the potential approval of Solana's spot trading ETFs in the U.S. this summer.
@EricBalchunas 'We are most likely to see the approval of Solana, XRP, Litecoin, and DogeCoin ETFs in Summer 2025' #Crypto pic.twitter.com/eQFzAs4ZXJ
- Crypto Wall Street (@CryptoWallSt_) May 1, 2025
According to Bloomberg Intelligence, the anticipated Solana ETFs have a 90% chance of approval, with six asset managers waiting to launch this product.
Solana ETF odds just jumped. Time for green light?!
Bloomberg Intelligence now gives a 90% chance that a $SOL ETF will be approved in 2025, up from 70% earlier this year.
Odds for $XRP and $DOGE ETFs were also raised, reflecting growing confidence in a softer SEC stance under… pic.twitter.com/FML45GrYi9
- Onur (@0xc06) May 1, 2025
The approval of Solana ETFs is expected to open the door to a new wave of investments that the Solana market has not yet benefited from.
In light of the potential approval of other ETFs like those for Ripple XRP and Dogecoin, the market may be on the verge of a new altcoin season.
However, considering the American economy's struggle with trade uncertainty and the Federal Reserve's unwillingness to ease monetary policy due to concerns over persistent inflation, it is currently unlikely that we will see a significant rise in altcoin prices similar to the 2021 scenario. However, it remains possible for the price of Solana to re-test its earlier recorded highs of 2025 that are close to $300 if it succeeds in surpassing the resistance level in the 170-180$ range.
However, achieving a new high of around $500 - for example - remains contingent on a strong macroeconomic landscape. More specifically, it is likely to require a strong U.S. economy and a rapidly accelerating global economy, along with a substantial injection of liquidity from the major central banks around the world.
All of this - in addition to the movement of investments toward the emerging Solana ETFs - will represent the stimulus that the price of Solana needs to launch towards $500.
