Solana News Today: Solana's $180 Support Tests Resilience Amid ETF Delays and DeFi Surge

Solana (SOL) remains anchored near $180, with analysts and market observers eyeing a potential rebound to $290 amid a mix of institutional interest, DeFi-driven optimism, and technical indicators suggesting a bullish turnaround. Despite recent on-chain weakness and regulatory delays, the cryptocurrency's ecosystem continues to show resilience, bolstered by rising Total Value Locked (TVL) and strategic investments from major players.

The token's price has held above key support levels, with data from TradingView indicating a 3.5% dip in the past 24 hours to $185, just below the 200-day EMA at $186. Analysts attribute this stability to growing institutional participation, including Citadel's 4.5% stake in DeFi Development Corp, a Solana-focused treasury firm. Citadel's 1.3 million shares reflect confidence in Solana's long-term potential. DeFi Development Corp's SOL holdings have surged in value by 67% since April 2025, now worth $395.3 million.

Meanwhile, Solana's DeFi ecosystem has emerged as a catalyst for recovery. Total Value Locked (TVL) has surpassed $10 billion, Coinotag reports, a 20-fold increase from early 2024 lows. This growth is driven by protocols like Jupiter (DEX aggregation), Marinade (staking), and Kamino (lending), which have attracted both retail and institutional liquidity. On-chain activity, however, remains a concern, with active addresses averaging 15 million per week—nearly 55% below May's peak of 33.6 million. Derivatives open interest has also contracted by 42% to $8.64 billion, signaling reduced speculative appetite.

Technical analysis offers a cautiously optimistic outlook. A double-bottom pattern on the 12-hour chart suggests a potential breakout above $190.82 resistance could trigger a 45% upward move toward $260. Additionally, a triple-bottom formation and rising RSI from oversold territory reinforce bullish momentum. If SOL breaks $210 on strong volume, the path to $250 becomes more plausible.

Regulatory developments remain a wildcard. The U.S. SEC's delayed decision on crypto ETFs—including Bitwise's proposed Solana fund—has dampened short-term sentiment, an Investing.com analysis notes. However, institutional inflows into Solana-linked products have offset some of this volatility; crypto.news reports $156 million in weekly inflows for Solana ETPs, bringing year-to-date totals to $2.8 billion. This contrasts with Bitcoin's $946 million outflows, hinting at a strategic rotation into Solana ahead of potential ETF approvals.

Long-term forecasts from analysts remain bullish. BitcoinWorld projects that by 2030 Solana could reach $500–$1,800, driven by expanding adoption in DeFi, gaming, and enterprise solutions. Forward Industries' recent treasury strategy to acquire SOL underscores this trend, aiming to boost SOL-per-share through active management. Meanwhile, the Senate's ongoing discussions on crypto legislation could provide clearer regulatory frameworks, potentially accelerating institutional adoption.

Separately, Solana treasury firm Solmate's stock surged 50% amid plans for a validator center and what management called an "aggressive M&A strategy," per TradingView.

Despite these positives, risks persist. Network stability concerns, competition from Ethereum and Layer 2 solutions, and macroeconomic headwinds could test Solana's resilience. A breakdown below $174 support could extend the correction toward $170, while sustained volume and TVL growth will be critical for a lasting recovery.