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Will Solana Bounce Back from $185 and Surge After the SEC’s ETF Delay? Here’s What Analysts Predict!
In the latest solana news, the cryptocurrency market has experienced a significant pullback, yet Solana (SOL) shows signs of a robust recovery attempt. After recently touching down at the $185 support level, market experts are optimistic, predicting a potential surge if this critical threshold maintains its ground.
Earlier this week, the crypto sphere was ablaze as Bitcoin (BTC) and Ethereum (ETH) reached new peaks, inspiring a market-wide bullish sentiment. However, unexpected macroeconomic indicators and decisions by the U.S. concerning Bitcoin purchases quickly reversed these gains, plunging most cryptocurrencies, including Solana, into a steep decline.
Despite these challenges, Solana managed to climb to an eight-month high of $209 before succumbing to a 10% fall, retesting its $190 support. The downturn continued following the SEC’s postponement of their decision regarding the approval of multiple Spot SOL ETFs. The U.S. Securities and Exchange Commission extended their review period, affecting ETFs from key players like Bitwise, 21Shares, and VanEck, with a new decision deadline set for mid-October 2025.
ETF Delays: A Blessing in Disguise?
James Seyffart, an ETF specialist, suggested that the delay might not adversely affect Solana’s market position, hinting at a probable approval in the forthcoming weeks. Following a brief market recovery, SOL’s price oscillated between $180 and $190, demonstrating resilience in a volatile market environment.
A Pivotal Moment for Solana Investors
Market analyst Ali Martinez highlighted a critical formation in Solana’s trading pattern, identifying a six-month ascending triangle that could catapult SOL to new heights around the $360 mark. According to Martinez, the recent market activity offers investors a potential “final buy-the-dip” opportunity before an anticipated 100% rally. Concurrently, the number of wallets holding over 10,000 SOL tokens reached a new all-time high, signaling strong investor confidence.
On the other hand, Sjuul from AltCryptoGems pointed out Solana’s stable uptrend, which has seen the resistance level of $200 tested thrice in recent months. The steadfast support around the $180 mark is seen as a pivotal factor for its next bullish phase.
As the market stands, SOL is priced at $184.9, marking a 4.7% decrease over the day. Despite these fluctuations, the broader sentiment around Solana remains hopeful, with analysts eyeing substantial gains in the near future.Read more about the latest crypto trends here.
What Lies Ahead for Solana?
The coming weeks are crucial for Solana as it navigates through regulatory uncertainties and market dynamics. Investors and traders alike will be keenly watching the SEC’s moves, as an approval could set the stage for a significant price rally. For those looking to expand their cryptocurrency portfolio, Solana presents a compelling case amid the current dips.Explore trading options for Solana on Binance.
In conclusion, while the SEC’s ETF decision delay introduces a layer of uncertainty, the strong fundamentals and supportive market indicators for Solana suggest that a breakout might be on the horizon, potentially rewarding risk-tolerant investors who are prepared to capitalize on these turbulent yet promising times.
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