Solana Surges 6.48% on ETF Hopes, SEC Chair Appointment

Solana has recently garnered significant attention, not only due to its price movements but also because of potential regulatory shifts that could impact its future. The appointment of Paul Atkins as the new SEC Chair has sparked optimism among Solana bulls. Atkins is known for his pro-crypto stance, which is expected to ease regulatory hurdles that have historically impeded the approval of altcoin ETFs. Solana, often referred to as the "Ethereum alternative," is now at the forefront of ETF speculation.

The broader market is already reflecting this optimism, with altcoins experiencing a rebound. Solana's strong fundamentals and its growing DeFi and NFT ecosystems position it as a top contender for an ETF. Even the mere possibility of approval is enough to trigger rallies, as seen in the current market sentiment.

Solana's daily chart indicates bullish recovery signs, although it is not yet out of the woods. After reaching a low near $100, SOL has surged to $124.80, marking a +6.48% gain in a single session. This rally has pushed SOL above its 20-day and 50-day SMAs, which are currently at $123.51 and $132.50, respectively. However, the 100-day and 200-day SMAs, at $171.47 and $181.77, remain as longer-term resistance levels. If Solana can break through the 50-day SMA and sustain volume, it could target the $140–$150 zone next.

The Accumulation/Distribution Line (ADL) has started turning upward from its base at 1,568.12, signaling a return of buying interest. The Heikin Ashi candles also show growing bullish momentum, with large-bodied green candles and diminishing lower wicks—a sign of strength and trend continuation.

The hourly chart for Solana looks even more promising. Solana has broken out cleanly above its 20-, 50-, 100-, and even 200-hour SMAs, now trading near $128.79. This alignment of short- and long-term moving averages below price is a classic bullish setup. Momentum is clearly building, with consecutive green Heikin Ashi candles and rising volume. The recent hourly move from $114 to $129 wasn’t just a bounce—it was a momentum-driven breakout. If bulls maintain control, the next key psychological level to watch is $135, with room to test $145 if the ETF narrative intensifies.

However, the ADL on the hourly chart remains flat at 1,278.22, indicating that while price is moving up quickly, whales and institutions might still be cautious. For this rally to be sustained, accumulation must pick up in the coming sessions.

While nothing is confirmed, the market is clearly hopeful about the possibility of a Solana ETF approval. Atkins’ history suggests a lighter regulatory approach, and with previous lawsuits against crypto firms being dropped post-election, the climate is warming. Solana stands out among altcoins due to its real-world usage, speed, and developer ecosystem—giving it a legitimate shot if the SEC reconsiders its rigid stance. Approval isn’t guaranteed, but even the possibility of a Solana ETF in the U.S. is enough to move the needle, especially as retail and institutional investors alike search for the next breakout alt.

If the bullish momentum continues and ETF speculation strengthens, Solana could soon push toward the $140–$150 range, with the potential to retest its 100-day SMA around $170 in a more aggressive rally. However, the path won’t be straight. Resistance is thick near $132 and again near $150, and a sudden drop in ETF enthusiasm or broader market weakness could pull SOL back toward the $110 support zone. Still, for now, the technicals and sentiment are aligned. Solana’s ETF story is gaining traction—and the price action is starting to reflect that narrative.