#StablecoinLaw
On July 20, 2025, the price of Solana SOL is trading around 181 USD, following a notable rise in August linked to several technical and fundamental factors:
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📈 Technical Indicators
Strong rebound during July: Solana increased by about 35% during the month, rising from around $130 to currently $177‑181, amidst strong buying momentum.
Relative Strength Index (RSI): Exceeds 70, indicating an overbought condition, but the upward trend may continue in cases of sustained momentum.
Elliott Wave Structure: Analyses indicate that SOL is in the third wave (Wave 3) of the Elliott pattern, which is usually the longest and strongest, with targets between $205‑220.
Expectations for the imminent approval of the Solana spot ETF by the SEC in October 2025, with success probabilities around 90–99% according to Polymarket data.
Corporate Transformations: Strategic shift by BIT Mining Inc. investing $200–300 million in SOL and reallocating its reserves.
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🎯 Expectations near July 20
Expected trading range during the period until July 27: $176‑178, average $176.4, with resistance at $178.45.
Weekly cup & handle pattern indicates a potential target near $295 if the current strength persists.
Short-term forecast: $205‑220, with the upward momentum continuing.
A hopeful and long-term forecast: Reaching a price of $250 during the week, or even $300 by the end of 2025 according to some institutions.
