Solana News Today: Solana Eyes $200 Breakout as ETF Filing and Bullish Charts Fuel Optimism

Solana (SOL) is showing signs of a potential price resurgence amid bullish technical indicators and renewed institutional interest. On July 31, 2025, the cryptocurrency formed a golden cross pattern as its 50-day moving average crossed above the 200-day line on the daily chart—a technical signal often associated with the start of a bullish trend. The price briefly exceeded $200 before pulling back to the $180 range, remaining above both key moving averages and maintaining the upward bias. A strong rejection candle emerged near the $170 support level, reflecting active buyer interest during the pullback [2].

The momentum is further supported by the filing of an amended Spot Solana ETF application by 21Shares with the U.S. Securities and Exchange Commission (SEC), reported by Solid Intel. This move, supported by Invesco Galaxy, has rekindled optimism among market participants. The timing of the filing coincided with a dip in SOL’s price to an intraday low of $170.29, but the asset quickly rebounded above $180, indicating strong institutional demand may be influencing current price levels [2]. At press time, SOL was trading at $181.16, showing a slight 0.02% increase on the day.

The regulatory push for a Solana ETF has heightened expectations, with some analysts forecasting a 97% approval probability. Although the SEC has not yet made a final decision, the latest delay in ruling on the Grayscale Solana ETF has pushed the decision date to October 10, 2025, giving traders more time to speculate on potential outcomes [12]. This regulatory development, combined with strong buying pressure near support levels and institutional inflows, suggests that Solana could continue its upward trajectory.

Market dynamics also favor a bullish scenario, as the broader crypto landscape shows resilience. Ethereum has outperformed Bitcoin in recent sessions, supported by ETF inflows and growing institutional adoption [4]. This shift in capital has created favorable conditions for altcoins like Solana. Chart analysis indicates that a close above $200 could trigger a larger bullish move, with potential targets as high as $220 [2].

However, some analysts caution that macroeconomic volatility and the prolonged ETF approval process could introduce short-term uncertainties [3]. Despite these risks, the growing demand for crypto exposure, especially from traditional financial firms diversifying beyond Bitcoin, remains a tailwind for Solana’s price action [8].

With technical momentum and regulatory developments aligning, Solana appears well-positioned for a potential breakout. While the path to $200 may involve some consolidation, the confluence of bullish indicators and regulatory speculation supports the view that a meaningful move higher could be on the horizon.

[1] AInvest: https://www.ainvest.com/news/solana-news-today-solana-etf-approval-pushes-price-153-21-99-probability-approvals-boosts-gains-2507/

[2] CoinCentral: https://coincentral.com/solana-charts-a-rally-bnb-sets-new-high-at-859-and-blockdags-x1-app-hits-2-5m-users-after-viral-demo/

[3] CoinCentral: https://coincentral.com/solana-price-may-struggle-in-q3-but-this-new-xrp-challenger-is-poised-for-5x-growth-in-months/

[4] The Economic Times: https://m.economictimes.com/markets/cryptocurrency/crypto-news/bitcoin-holds-steady-near-118500-as-ethereum-leads-gains-on-etf-inflows/articleshow/123014940.cms

[8] Mitrade: https://www.mitrade.com/au/insights/news/live-news/article-3-997818-20250730

[12] Blockchain News: https://blockchain.news/flashnews/sec-delays-decision-on-grayscale-solana-etf-sol-new-deadline-set-for-october-2025