Solana Price Analysis: Potential Breakout as SOL ETF Approval Odds Surge
Solana (SOL) is the buzz of the cryptocurrency market since several signs indicate to a potential major price surge in 2025.
Market analysts and prediction markets are presenting a progressively positive picture for the fifth-largest cryptocurrency by market capitalization as SOL right now trades above $200.
Solana ETF Approval Prospects Get Brighter
Matthew Sigel, head of research for VanEck, has said that the chances of a U.S. Solana ETF clearance in 2025 could be much greater than Polymarket’s already hopeful 84% estimate. After Donald Trump’s presidential triumph, this attitude has become more important since the newly appointed president-elect shares his aim to establish America “the world’s crypto capital.”
Five main asset managers—VanEck, Grayscale, 21Shares, Bitwise, and Canary Capital—have applications for Solana ETFs pending now. While the other applicants hope for preliminary rulings by January 25, Grayscale’s proposal has a critical deadline on January 23.
SOL/USD Technical Analysis Suggests Further Upside
SOL/USD recent price action shows strong momentum, with the cryptocurrency maintaining position above key support levels. Technical analysis reveals:
- Immediate support at $198.40 (7-day moving average)
- Strong resistance at $209.18 (25-day moving average)
- Critical price targets at $220.91 and $264.39
Notably, the 99-day moving average at $167.57 continues to provide robust long-term support, suggesting the overall trend remains bullish.
Solana Price Prediction and Market Outlook
Industry experts have set ambitious targets for SOL in 2025. VanEck’s September report suggested a potential price target of $330, while veteran trader Peter Brandt has identified $274 as a key swing target. These projections are supported by:
- Growing institutional interest through ETF applications
- Increasing network activity and user adoption
- Strong performance against competitors like Ethereum
- Rising long-term holder base, with the 6-12 month cohort controlling 27% of supply
Potential Challenges
Investors should see possible challenges even with the positive attitude. The SEC’s previous classification of SOL as a security in ongoing lawsuits adds regulatory uncertainty. Additionally, the cryptocurrency needs to overcome significant resistance levels, particularly around the $220-$265 range, to maintain its upward trajectory.
