Solana News Today: Solana Nears $280 Resistance With 470 Gain Potential Toward $1,000 Target

Solana (SOL) is approaching a critical price level that could trigger a breakout and potentially push the token toward a multi-year target of $10,000. Analysts are closely monitoring the development of a three-year ascending channel, with the altcoin consistently notching higher lows since mid-April. Over the past week alone, SOL has seen a 12% price increase, signaling growing bullish momentum [1].

The key resistance level for a potential breakout is currently near $280, and momentum indicators are showing a return to bullish territory for the first time since July. The Relative Strength Index (RSI) has moved above the neutral 55 level, indicating strong buyer control, while the MACD has formed a golden cross, suggesting the start of a potential mid-term uptrend [1]. In a breakout scenario, Solana could surge toward $1,000—a 470% gain—fueled by increasing integration with traditional finance (TradFi) in the United States.

A recent executive order signed by former U.S. President Donald Trump opened the $9 trillion 401(k) retirement market to crypto assets, which could provide a major demand catalyst for Solana. Additionally, market participants are anticipating up to four U.S. interest rate cuts before the end of 2025, with the first potentially occurring as early as September. These cuts could drive new capital into risk assets such as cryptocurrencies, further supporting Solana’s price movement [1].

The potential approval of a spot Solana ETF by October 10 also adds to the bullish narrative. According to Bloomberg’s ETF analysts, the likelihood of approvals for most spot crypto ETFs has risen above 90%, indicating strong regulatory momentum [1]. This could attract both retail and institutional investors, amplifying demand and price pressure on Solana.

However, near-term volatility remains a factor. Key inflation data, including the August 12 PPI and August 14 CPI readings, could influence the Federal Reserve’s rate-cut timeline, which in turn may affect Solana’s price trajectory [1].

Longer-term, the pattern’s full potential is seen at the $10,000 level, although this would require sustained demand and broader adoption of Solana’s ecosystem. As real-world assets (RWAs) and tokenized equity platforms evolve, Solana’s role as a leading infrastructure for such innovations could prove central to achieving this ambitious target [1].

Source: [1] Solana Price Prediction: SOL Is One Level Away From Going Parabolic – $10,000 SOL Target Back in Sight (https://cryptonews.com/news/solana-price-prediction-sol-is-one-level-away-from-going-parabolic/)