Solana (SOL) is stealing the spotlight this weekend. The token pushed past $151 after climbing 3.1% in just 24 hours — and the buzz isn’t dying down anytime soon.
Behind the scenes? A flurry of ETF chatter, particularly rumors tied to BlackRock, plus heavyweight investors circling Solana like hawks. The market’s catching on, and prices are responding.
ETF Hype Sends Solana Back Into the Limelight
Whispers started swirling late Friday. A rumor: BlackRock is considering not just Bitcoin or Ethereum ETFs, but possibly even altcoin spot ETFs — including Solana, Cardano, and Polkadot.
That was enough.
Solana, which had been flirting with the $147 mark, quickly shot to over $152.40 by Sunday afternoon. Market cap jumped to $80.9 billion. And although volume fell 13.3% to $2.51 billion, the bulls didn’t blink.
Some traders are already acting like it’s October. That’s when ETF approvals may roll in — or not. But just like we saw before Bitcoin’s ETF greenlight back in late 2023, markets are front-running optimism.
They’re betting on history repeating itself.
Bulls Hold the Wheel, but Bears Could Still Steer for a Bit
Right now, longs dominate. According to CoinGlass, 62% of open interest on Binance is riding the bullish wave. But that doesn’t mean everyone’s blindly optimistic.
A TD Sequential signal — popular among chartists — just flashed red on the 4-hour chart. Crypto analyst Ali flagged it, suggesting we might see SOL briefly dip back to the $146–$147 area.
That’s a spot worth watching.
Support is clustered there, and the zone matches key Fibonacci levels. Traders could look at that dip — if it comes — as a chance to reload before the next leg up.
Technicals Hint at a Breakout, Not a Breakdown
Norak, another big name in crypto circles, isn’t phased. He thinks the dip might come, sure — but it’s not a deal-breaker.
His latest chart shows SOL has already busted through a downtrend that’s been in place for weeks. On top of that, it’s now holding firm above its 50-day EMA, which has flipped into a support base.
That’s bullish. No two ways about it.
• SOL is above its Bollinger average of $146.98
• Resistance seen at $151.49, with the upper band at $162.51
• The 50-day moving average? Sitting pretty at $158.41
If the price clears $153 and stays there for a day or two, that’s the green light many traders are waiting on.
Is $170 on the Horizon or Just a Mirage?
Let’s talk scenarios. There are a few ways this could go.
If SOL breaks through $153 and the market remains relatively calm — meaning no Bitcoin flash crashes or sudden bad news — then $165 to $170 isn’t far-fetched at all. Some analysts think that level could be tested before the week’s out.
Here’s what the near-term looks like based on current data:
| Price Zone | Status | Implication |
|---|---|---|
| $146–$147 | Strong support | Possible dip-buy opportunity |
| $151–$153 | Key resistance zone | Make-or-break level for further gains |
| $158–$162.5 | MA + Upper Bollinger | Likely testing ground if breakout holds |
| $165–$170 | Projected upside | High target if momentum builds |
What Could Go Wrong? Retracements, Consolidation, and Market Boredom
Of course, not every weekend rally turns into a weeklong bull run.
One possible outcome? SOL fails to hold above $152–$153 and gets rejected. That could trigger a retreat toward the $146 support level again. Not catastrophic, but annoying for short-term traders.
Another possibility is sideways action — the dreaded “meh” zone.
SOL has spent chunks of the last few weeks moving between $148 and $152, consolidating and giving traders very little to go off. If ETF rumors fade or Bitcoin gets volatile, SOL could just… sit.
And let’s be real — no one loves that.
Still, with institutional whispers and a high-performing L1 narrative backing it, Solana has more going for it than most of the crypto field right now.
