Key Insights:
- Solana Price Bullish pennant breakout signals strong upward momentum for SOL.
- Solana ETF approval likelihood boosts investor confidence and demand.
- W-pattern suggests trend reversal toward $150–160 resistance zone.
Solana (SOL) price action is drawing attention as momentum builds for a possible breakout. Institutional interest appears to be rising again, with technicals aligning for a trend shift. SOL is trading just below the $150 resistance zone, with market participants watching for a decisive breakout.
Analysts argue that a close above $150 could open the door to a move toward $200. For now, the chart structure and macro trends continue to lean bullish.
Is Solana ETF Approval Likely in 2025?
According to PolymarketCap, the likelihood of the Solana ETF being approved in 2025 has seen a significant increase. As of late June 2025, the probability of approval stands at 88%, marking a 14% rise from previous projections.
This spike reflects a growing optimism within the market about the potential approval, which could have a profound impact on the cryptocurrency ecosystem and Solana’s market dynamics.
Solana Price Shows Bullish Pennant Breakout
Crypto analysts are noticing a bullish pennant breakout in the Solana price despite the overall market facing challenges. This technical pattern typically signals the continuation of the current uptrend, making it an attractive prospect for traders.
The suggested entry for this trade is $144.8, with a stop-loss placed at $142.2 to minimize risk. The target price is set at $161, offering a potential for significant gains.
As momentum builds, the market is bracing for a possible explosive move, with experts advising traders to stay alert and monitor the situation closely.
Recently, a crypto analyst remarked that the Solana price is on the verge of a significant bounce. The cryptocurrency has just started recovering after falling to its lowest of $125.99.
The analyst observed that a possible W-shaped trend is being created, which is normally associated with a bullish trend. This indicates that $SOL may be headed to regain its positions and approach the price range of $150-$160.
Crypto analysts present the most important technical formations, such as the double bottom and a market dump, as an indication of a reversal. All these factors combined suggest the idea of a large price increase in Solana in the near future.
SOL Price Faces Resistance, Bulls Eyeing Reversal
The SOL price has shown a slight decline in recent trading, with the current value standing at $146.72, reflecting a decrease of 0.27%. Despite this minor dip, the price remains within a relatively stable range, with a key support level just below the $146 mark.
The MACD is moving in the positive direction which is an indication of a possible upward trend. The same positive can be observed on the histogram, which also indicates that a price reversal may take place soon.
Moreover, Chaikin Money Flow (CMF) is still in the green and is currently at 0.04, showing continued buying pressure. This shows that it would have experienced some slight pullback, but further price growth is still possible, provided the current trend is maintained.
In terms of resistance, the price faces significant levels around $150 and $175. Should the price break above these levels, there could be potential for SOL to target the $200 range. However, if the price falls below the $146 support, the next possible target could be $140.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
The post Solana Price Targets $200 as ETF Approval Odds Hit 80%. appeared first on The Market Periodical.
