Solana Price Poised for 150% Surge with SEC ETF Approval

Solana, the third-most popular coin among institutions, is poised for a significant boost if the Securities and Exchange Commission (SEC) approves the pending Solana ETF applications. The approval of these ETFs could direct a massive amount of demand and liquidity towards Solana, potentially driving its price up exponentially. Currently, digital funds have $1.3 billion in SOL under management, making it the most popular token among institutions after Bitcoin and Ethereum.

According to analyst James Seyffart, there is a 95% chance that the SEC will approve the SOL ETF applications by the end of 2025. This approval would further solidify Solana's position in the market, given its already strong fundamentals. The upcoming upgrades, Firedancer and Alpenglow, are expected to strengthen Solana's fundamental position even further.

Despite the current market conditions, where Solana's price has struggled to move significantly, there are signs that a rally could be on the horizon. The moving average convergence divergence (MACD) and the relative strength index (RSI) indicators suggest renewed buying pressure. Additionally, the formation of a bullish pennant by SOL's upper and lower bounds in recent months indicates that the Solana price may be close to rallying again. This rally could be influenced by macro factors, such as the upcoming deadline on US tariffs, and the stabilization of the market.

In the longer term, the Solana price could hit $200 by the end of August and $300 by the final month of the year. This prediction is based on the potential approval of the SOL ETFs and the upcoming upgrades, which are expected to strengthen Solana's position in the market. The approval of the ETFs would provide a massive boost to Solana, potentially allowing it to flip Ethereum in the next cycle. However, this remains to be seen and will depend on various factors, including market conditions and regulatory developments.