Solana (SOL) is gaining attention this weekend, trading at roughly $151.30 after a 3.1% increase within the last 24 hours. The increase is due to growing interest in ETFs, optimism from large investors, and positive technical signals. If growth continues, the Solana price may break out and rise to levels of $165 to $170 by the end of this week.
While some indicators suggest a brief pause, the overall outlook for SOL remains optimistic. This optimism is mainly fueled by interest from institutions and Solana’s growing reputation as a leading fast Layer 1 platform.
Traders Front-Run BlackRock ETF Rumor
Solana’s recent uptrend has been turbocharged by reports that BlackRock is exploring spot ETFs not only for Bitcoin and Ethereum but also for altcoins like Solana, Cardano, and Polkadot.
Though no official filing has been made, traders are pricing in the potential for October approvals, with market behavior echoing what was seen before Bitcoin’s ETF green light in late 2023.
As a result, SOL’s market cap rose to $80.9B, and its price surged from below $147 to over $152.40 in the past 24 hours, according to CoinMarketCap.
Even with trading volume dropping by 13.3% to $2.51B, buying pressure remains dominant, with longs accounting for over 62% of Binance’s open interest, per CoinGlass.
SOL Bulls in Control, But Retracement Possible
On the 4H chart shared by one of the most popular crypto analysts, Ali, a TD Sequential indicator flashed a sell signal, suggesting SOL could pull back to the $146–$147 range. This aligns with Fibonacci retracement levels and prior resistance-turned-support zones.
However, other analysts are not entirely bearish. Norak points out that SOL has broken a key downtrend, and a strong continuation toward $160+ could follow any retracement to the $147 zone.
His chart shows a clear breakout above the 50-day EMA, now acting as a support pivot.
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TradingView’s daily chart also shows SOL closing above its Bollinger average at $146.98, with near-term resistance forming at $151.49 and the upper Bollinger band capping at $162.51. The 50-day MA sits at $158.41, likely to be tested next if bulls keep momentum.
Solana Price Prediction: What’s Next for SOL?
Solana’s next step will depend on how it handles its current resistance levels and whether it can maintain bullish momentum. If SOL’s price surges above the critical $153 level and stays there, it could surge toward the $160–$170 level during the week. This rise would probably occur if the overall market is stable, particularly if Bitcoin performs well.
On the downside, if SOL is turned down at $152–$153, it may correct short-term and dip to the $146–$147 support area. Strong moving averages and Fibonacci levels support this area, making it a potentially good time to buy.
Solana’s price might also consolidate between $148 and $152 if the market pauses to review trends and momentum. In this case, traders should wait for a clear sign of a price drop or increase before making big decisions.
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