Solana price breaks $220 amid ETF buzz, can the rally hold?

Solana price is back in an uptrend, posting fresh gains as ETF optimism drives market momentum.

Solana price has pushed past the key $220 level, hitting an intraday high of $226.7 as investor sentiment strengthens. At the time of writing, SOL trades at $225.39, marking a 7.62% increase on the daily chart and a 6.86% rise over the past week.

Solana price surges as ETF odds rise to 100%

The daily chart reflects bullish conviction, with a strong candle closing above prior resistance and accompanied by a notable spike in trading volume.

Technically, SOL’s uptrend appears intact. The Relative Strength Index (RSI) stands at 54.71, signaling bullish momentum with room to run before entering overbought levels. The Moving Average Convergence Divergence (MACD) is also showing positive signs, with the MACD line nearing a bullish crossover above the signal line.

The ongoing Solana (SOL) price rally comes amid growing optimism surrounding the launch of a Solana exchange-traded fund (ETF). Bloomberg ETF analyst Eric Balchunas recently raised the odds of a Solana ETF approval to 100%, citing new generic listing standards adopted by the U.S. Securities and Exchange Commission. These streamlined regulations have removed many of the traditional barriers that delay ETF approvals.

First SOL ETF deadline comes up Oct 10 

Eight asset managers, including Franklin Templeton, VanEck, and 21Shares, have filed for a SOL ETF with several issuers already submitting revised filings in alignment with the SEC’s new guidelines. The first deadline is Oct 10 for Grayscale’s SOL ETF, while most others are set for Oct 16. If approved, the listing could inject fresh capital and propel Solana price to new highs.

For the rally to continue, buyers will need to overcome immediate resistance at $230, the upper boundary of Solana’s recent trading range. A successful breakout could lead to a climb toward the $240–$245 region, aligning with September’s peak levels. 

On the downside, the $220 zone now acts as the first line of support, with stronger demand expected near $210 if profit-taking intensifies. While momentum is clearly building, much of the rally hinges on a SOL ETF approval and sustained market interest.