Solana Price Action Catches Attention
Solana has been trading at about $170 over the last week after pausing following an earlier rally that began earlier in the month. The recent price action has caught analysts’ attention as most of them monitor signs of a so-called Golden Cross developing—a technical indicator that, if confirmed, might imply increasing momentum to come.
Source: TradingView
At the time of writing, the 50-day Solana moving average is higher than its 200-day average. Historically speaking, a crossover in a similar manner has produced strong rallies. With this trend persisting, an even 50% price appreciation is possible, with prices potentially pushing SOL up to $240 over the short term.
Traders have also seen a bullish “cup and handle” formation. This formation is normally seen leading into upward breakouts and lends further validity to the suggestion that prices might go further up. The $200 level is now a critical zone to monitor.
Analysts See $200 Breakout as Catalyst
Crypto analyst Ali Martinez says that a close above $200 would validate the present bull chart setup. He has also shown a key area for a major breakout. That level is as much a matter of psychology as it is a wave strike price for an expiring set of call options on June 27. Traders who anticipate more short-term upward pressure have acquired these.
Source: Ali Martinez
Interest in their options seems to be an indication of wider opinion. Solana rose 57.75% from April 8, outpacing Bitcoin’s advance over the same span. As Bitcoin broke $103,000, Solana’s more rapid progress sees it standing out among large tokens so far in 2025.
In spite of optimism, technical levels on the downside remain in play. Dropping below $160 is likely to reverse recent progress and take SOL all the way to $150. Analysts point out that keeping above $160 for the remainder of 2025 is required for any serious chance of breaching $200.
ETF Launches Add Fresh Momentum
The Solana optimism is more than about price trends. Two Solana futures ETFs listed in the U.S. slipped into existence quietly in March. On March 20th, Volatility Shares listed the Solana ETF (SOLZ) and the 2x Solana ETF (SOLT). Although they did not compete with the flashy start for the inaugural Bitcoin ETF, they have received a good reception so far.
Inflows for SOLZ have been $13 million and $21 million for SOLT. With Solana’s recent success, assets under management now total $17 million and $32 million, respectively. That is small but significant, particularly when contrasted with Ether futures ETFs that could barely draw more than $30 million combined soon after their release in 2023.
Early numbers paint a picture of increasing investor optimism, even if Solana is far behind behemoths such as Bitcoin, whose market cap stands at $2 trillion. Ether, for its part, is at $300 billion, while Solana is at about $90 billion.