$SOL finds itself at a pivotal moment, with both technical indicators and regulatory developments shaping market sentiment.

On August 18, the US Securities and Exchange Commission (SEC) delayed rulings on several major crypto ETFs, including spot Solana products from 21Shares and Bitwise. The new deadline of October 16 places Solana in the spotlight, as institutional investors await clarity on whether the first US Solana ETFs will be approved.

On the charts, Solana has struggled to break through resistance around $184–$190, while key bid walls at $180 and $175 continue to provide support. Momentum indicators such as the MACD and RSI suggest fading bullish strength, leaving the market in a state of indecision. Traders are eyeing a potential breakout above $187 as a trigger for upside, while a breakdown below $180 could shift control to the bears.

With October shaping up as a decisive month for crypto ETFs, Solana’s price may remain range-bound in the near term, but the eventual ruling could be a catalyst for significant volatility.

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