Network in progress, prudent traders: Solana seeks its direction
21:40 ▪ 5 min read ▪
To inform
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Altcoins
SOL is at a true crossroads today. Solana's native crypto has risen nearly 30% in a month, reaching the $210 area. However, it still struggles to overcome the technical barrier of $215, where sellers and buyers face off. Some analysts see signs of a new surge driven by the Solana ETF and the recent updates to the network. Others fear that a massive profit-taking will drop the price below $200. Between hope and doubt, Solana hesitates about the path to follow.
In brief
Solana rises 30% in 4 weeks but remains trapped under a technical resistance around $215.
The Solana ETF generates between 90% and 99% hope, decision expected in the coming October.
The Alpenglow update reduces block completion to 150 milliseconds, validated by 98%.
Competing memecoins divert capital and attention, despite the fundamental strength of Solana's blockchain.
The Solana ETF, the spark that the entire crypto market awaits
The factor drawing attention is the possible approval of a Solana ETF in the United States. The SEC has requested new document updates, a sign that the process is entering its final stretch. Prediction markets now estimate the odds of approval between 90% and 99%, with a possible decision in October.
Behind this wait, a real competition is taking shape: Fidelity, VanEck, Grayscale, CoinShares, or Franklin Templeton are vying for the privilege of launching the first product.
An ETF could transform the market by opening the floodgates to institutional capital. The expected impact would be comparable to that caused by Bitcoin and Ethereum ETFs earlier this year.
