Why Solana Price Is Surging? Analysts Eye SOL ETF Catalyst

Solana (SOL) price today is slowly winning back trader trust as it holds steady near $166, registering a 2.7% daily gain. After plunging to $136 in June, the recovery signals growing interest in the altcoin during this ongoing crypto bull run.

But this surge isn’t just fueled by hype. According to top chart analyst Ali Martinez, a breakout above $170 could ignite a powerful rally and possibly lead SOL to $2,000.

Solana Spot ETF Approval Odds Surge

One of the biggest factors behind SOL’s latest upswing is speculation around a Solana spot ETF approval in the U.S.

• Polymarket shows a 90% probability of Solana spot ETF approval by the end of this month.
  
• The momentum follows earlier approval of Solana futures ETFs, and Canada has already launched spot SOL ETFs, making the U.S. the likely next step.
  
• As seen with Bitcoin and Ethereum, ETF approvals often attract institutional capital—a trend that could send SOL prices soaring.
  

New REX‑Osprey Solana Staking ETF Boosts Confidence

Further boosting investor sentiment is the recent launch of the REX-Osprey Solana and Staking ETF (SSK) on the Cboe BZX exchange.

• It attracted $12 million on launch day.
  
• Logged $33 million in first-day trading volume.
  
• Offers exposure to both SOL and staking rewards, giving passive income potential on top of price growth.
  

This ETF sets Solana apart from many other altcoins, positioning it as a growth + yield asset for both retail and institutional investors.

Technical Analysis: A Break Above $170 Could Trigger a Bull Run

According to Ali Martinez, SOL is forming a cup-and-handle pattern on the weekly chart, a bullish technical indicator.

• A breakout above $170 could quickly send SOL to $200 or $300 in the short term.
  
• If momentum sustains, the rally could extend toward $2,000, marking a potential 10x move.
  

The Solana Fear and Greed Index currently sits at 64, indicating a “Greed” sentiment and increasing market optimism.

Final Thoughts: Is Now the Time to Buy Solana?

With bullish technical patterns, rising ETF speculation, and growing investor interest, Solana seems primed for a major breakout. If ETF approvals mirror Bitcoin’s success, SOL could become one of the top altcoin performers this cycle.

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