- Solana price breaks out of a downtrend; key resistances at $156 and $183 stand in the way.
- The $5.8T asset manager’s filing boosts institutional confidence, but SEC approval is uncertain.
- ETF hype sparks a quick surge, with analysts eyeing a potential breakout.
The Solana price has jumped 2.2% in the last 24 hours to trade at $145.11 as of 12:30 p.m. EST on 9.2% decline in trading volume to $4.12 billion.
The increase happens as Fidelity, a financial titan managing $5.8 trillion in assets, has officially filed for a spot Solana (SOL) exchange-traded fund (ETF) with the Chicago Board Options Exchange (CBOE).
The filing, confirmed today, marks a significant step toward mainstream adoption of Solana, the high-speed blockchain that’s been fiercely competing with Ethereum. The price of SOL is under the microscope. Could this be the catalyst Solana’s price needs to reclaim its former highs, or is it just another blip in a volatile market?
Solana Price Jumps 2% On Fidelity SOL ETF Filing
The Fidelity filing injected a dose of optimism into the SOL price action, resulting in a quick 2.2% spike in a 1-hour span. Market participants such as popular crypto analyst Rendoshi Tokamoto (@Rendoshi1) highlight the news, speculating it could trigger a bullish breakout.
Fidelity isn’t new to crypto. It manages the second-largest Bitcoin ETF, the Fidelity Wise Origin Bitcoin Fund (FBTC), with billions in assets under management. Its entry into Solana signals confidence in SOL’s fundamentals: lightning-fast transaction speeds, low costs, and a growing ecosystem of dApps.
The filing follows a trend of altcoin ETF applications, with Franklin Templeton and VanEck also in the race for Solana products. Yet, the SEC’s approval isn’t guaranteed. Past Solana ETF bids from VanEck and 21Shares were rejected, and the regulator has emphasized the need for an established futures market—something Volatility Shares addressed with its SOL futures ETFs launched last week.
Historically, ETF filings have been market movers. A classic example is Bitcoin’s spot ETF approvals in 2024, which sent BTC price soaring past $100,000. Could Solana follow suit?
Solana price has been a rollercoaster in recent months. After hitting an all-time high of $295 in January 2025, SOL has faced its share of turbulence, dropping to $112 earlier this month amid a broader crypto slump. Today, it’s hovering around $145, a modest recovery but still far from its peak.
SOL Price Analysis: SOL Eyes 79% After Breaking Out of Key Pattern
The Solana price chart shows the asset was previously in a downtrend within a descending channel but has recently broken out. This breakout suggests a potential trend reversal to the upside.
SOL’s 50-day simple moving average (SMA) sits at $156, suggesting resistance ahead, while the 200-day SMA at $183 looms as a longer-term hurdle. The Relative Strength Index (RSI) is at 52.59, indicating neutral to slightly bullish conditions.
Support levels around $125 have held firm, but a break below could see SOL test $100, a psychological threshold traders are watching closely.
Conversely, a surge past $156 could signal renewed momentum, especially with Fidelity’s institutional clout in play. Solana price could easily reclaim its previous high of $295, and reach $300.
The market sentiment is cautiously optimistic. A JPMorgan report cited by Cointelegraph predicts that a spot Solana ETF could attract $3 billion to $6 billion in net assets within six months if approved, dwarfing Ether ETF inflows.
However, risks remain. Regulatory uncertainty, macroeconomic headwinds, and Solana’s past network outages could temper enthusiasm. For now, SOL traders are on edge, eyeing the SEC’s 240-day review window.
