Solana News Today: Solana Eyes Breakout as Bulls Target $194–$205 Resistance With ETF Hopes Rising

Solana’s price outlook remains a focal point for investors as the market braces for key developments in the coming week. The asset is currently trading above the 30-day simple moving average and has recently broken out of the 50% Fibonacci retracement level, which has historically acted as a psychological barrier. Analysts suggest that if Solana can maintain a close above $186.84, the next resistance levels at $194–$205 could become the target for bullish momentum [2]. However, a failure to hold above $180 may shift the focus back to $171 as a critical support level [7].

The broader market environment has also been shaping Solana’s trajectory. Despite BlackRock’s recent denial of plans for a Solana ETF, seven other major issuers—such as VanEck and Fidelity—have advanced their applications, with final submission deadlines set for as late as September 5. Analysts have estimated a 90% chance of approval by October 2025, which could bring institutional inflows comparable to those seen after Bitcoin and Ethereum’s ETF approvals [2].

Real-world adoption is another key driver. In late July and early August, Solana saw high-profile partnerships, including PayPal’s expansion of its PYUSD stablecoin to the network and a recent collaboration between Exodus Movement and Superstate to tokenize shares on Solana. These developments reinforce Solana’s position as a settlement layer for compliant financial instruments, potentially attracting conservative capital from traditional financial institutions [2].

From a technical standpoint, Solana has shown strong momentum, with the RSI approaching overbought territory and the MACD showing a modest bullish crossover. However, analysts have warned that weakening MACD signals could indicate slowing momentum. The 30-day SMA remains a critical benchmark, and any pullback below this level may trigger renewed caution among traders [2].

Network upgrades also play a crucial role in Solana’s long-term viability. The July SIMD-0256 upgrade increased block capacity by 20%, while the upcoming Q4 Alpenglow update is expected to reduce transaction finality from 12 seconds to just 150 milliseconds. The Firedancer client, which aims to process over one million transactions per second by 2026, could further solidify Solana’s performance advantage, especially in DeFi and NFT ecosystems [2].

Whale activity remains a mixed factor. A significant movement of 108,000 SOL ($17.7M) to exchanges in mid-August contributed to a short-term price dip. However, July saw a net withdrawal of 123,000 SOL for long-term staking, which limits near-term sell pressure. With over 63% of the circulating supply currently staked, Solana’s network security and economic stability remain strong [2].

Looking ahead, the coming week will be pivotal. Investors will closely monitor the SEC’s August 12 and September 5 deadlines for ETF-related submissions. Price action near $186.84 will be key, as a decisive break above this level could set the stage for a strong finish to August. Analysts remain cautiously optimistic but advise vigilance in response to any shifts in whale activity or technical indicators [2].

Source:

[1] https://30rates.com/solana

[2] https://thecurrencyanalytics.com/altcoins/solana-sol-eyes-breakout-as-bulls-target-175-resistance-level-189496

[3] https://stockinvest.us/stock/SOLUSD

[5] https://www.nasdaq.com/articles/15-3-months-solana-buy-right-now-1000

[6] https://cryptonews.com/news/solana-price-prediction-4-4b-trading-volume-sends-sol-soaring/

[7] https://www.mitrade.com/insights/news/live-news/article-3-1021635-20250808

[8] https://coinpedia.org/price-prediction/solana-sol-price-prediction/

[9] https://www.tradingview.com/symbols/SOLUSD.P/ideas/?sort=recent&video=yes