Solana Surges 6.96% as ARK Invest Buys $5.2 Million in ETF Shares

Solana's price has recently garnered significant market attention following Cathie Wood's ARK Invest's acquisition of $5.2 million worth of Solana ETF shares. This strategic investment aligns with a broader trend of growing institutional interest in the altcoin, coinciding with the Solana price chart's approach to a potential breakout. Currently priced at $148.87, market speculation is rife about whether SOL can rally nearly 89% from its recent lows.

On April 21, ARK Invest, through its ARKW and ARKF ETFs, invested in Canada’s 3iQ Solana Staking ETF (SOLQ), acquiring 500,000 shares worth approximately $5.2 million. This move marks one of the first instances of U.S.-listed funds gaining direct exposure to Solana, reflecting increased institutional confidence in the project. The Solana price chart is now showing early signs of a breakout after a weeks-long downtrend. With a weekly gain of over 5% and a daily increase of 6.96%, sentiment is gradually shifting from caution to cautious optimism.

The Solana price chart is currently positioned at a critical inflection point. After bottoming near $95.33 earlier this year, SOL is now eyeing a recovery above the $150 resistance mark. If SOL successfully breaks above this barrier, analysts anticipate an 89% rally that could propel prices toward the $180–$190 range. Institutional backing further strengthens this bullish case. A major milestone in U.S.-listed funds engaging with Solana was reached on April 21 when ARK Invest added $5.2 million in Solana exposure through the 3iQ Solana Staking ETF (SOLQ). This move places Solana in ARK’s portfolio alongside blue-chip tech companies and has drawn widespread attention.

Adding momentum, another data shows long liquidations at $1.02 billion versus $412 million in shorts, a 142% difference, signaling growing long interest. The Long-to-Short Ratio of 1.0096 confirms a slight bullish tilt. Meanwhile, trading volume surged to $4.69 billion in 24 hours. Upexi Inc.’s $100 million Solana treasury strategy and 630% stock rally further highlight institutional optimism. Still, caution is warranted. If it fails to hold above $150, SOL price support at $130 or even $110 could come back into play, depending on broader crypto market conditions.

The outlook for Solana remains cautiously optimistic. With increasing institutional adoption, positive derivatives data, and a compelling price structure on the charts, the altcoin has a solid foundation for a potential breakout. However, this move must be supported by sustained buying volume and market-wide bullish momentum. If SOL can hold above $150 and print higher highs, we may witness the start of a strong upward trend. Otherwise, a period of consolidation may be ahead as traders wait for clearer confirmation.

The Solana price chart is flashing bullish signals as institutional interest ramps up. From ARK Invest’s ETF buy-in to technical indicators suggesting a reversal, momentum is building. What happens next depends on follow-through from buyers and the broader crypto climate. If bulls can maintain pressure and drive SOL past key resistance, the next target may lie near $180. However, if enthusiasm fades, $130–$135 SOL price support becomes critical. For now, Solana news remains upbeat, and the market is poised. Let’s wait to explore how far this institutional wave can carry SOL.