Cryptocurrency Solana SOL $153.14 Binance-Peg SOL 7.09% Market capitalization $0.17 billion VOL. 24 hours $0.43 billion is holding at around $ 149 after a slight decline, during which the price found support near its 50-day exponential moving average (EMA) at $ 140.30. Technical indicators, such as the Relative Strength Index (RSI) at 61, indicate that the positive momentum is maintained, which supports expectations of further growth in the asset’s value.
As the price stabilized, the market capitalization of Solana’s stablecoins increased to $ 13.06 billion. This growth reflects increased user activity, as well as the use of the platform in decentralized finance, memcoin trading, and payment solutions. The increased demand for stablecoins is a sign of a healthy ecosystem, which, in turn, supports the positive attitude of investors towards SOL.
Another important factor affecting market expectations was the information about the increased chances of approving a Solana-based exchange-traded fund (ETF) in the United States. Bloomberg Intelligence analysts estimate the probability of such a decision in 2025 at 90%. At the same time, there are also high chances of approving similar ETFs for other cryptocurrencies, including Litecoin, Ripple, Dogecoin, Cardano, Polkadot, Hedera, and Avalanche.
To date, six investment firms — including Grayscale, VanEck, 21Shares, Canary, Bitwise, and Franklin — have already applied to launch a Solana-related ETF. If approved, it is expected that such an instrument will simplify access to investments in SOL for traditional market players, increase the liquidity of the asset, and give it additional legitimacy in the eyes of institutional investors.
From a technical perspective, a breakout of the $ 160 resistance level could open the way to a new target of $ 177.66. At the same time, if the price consolidates below the support level of $ 140.30, it could signal a further correction with a potential decline to $ 118.10. Thus, the further dynamics of SOL depends on whether the asset can hold the key support.