Solana Price Prediction: Is SOL Sideways Building Momentum? Key Catalysts May Trigger a big pump Market.

SOL price movement continues sideways Solana (SOL) price movement has been continuously sideways recently, continuing the trend that started on June 29. This pattern is often seen as a potential SOL buy signal, which may indicate that a strong SOL price surge is on the horizon. On the technical charts, SOL has formed a highly bullish pattern, while market expectations for the approval of Solana ETF have also significantly increased.

Spot SOL ETF: Key Catalyst for Solana Price Surge The main factor driving the Solana price prediction bullish is the market expectation that the U.S. Securities and Exchange Commission (SEC) will approve multiple spot Solana ETFs later this year. This week, the prediction platform Polymarket shows that the chances of SOL ETF approval have surged to over 90%.

Even though the SEC delayed Fidelity's ( Solana ETF application, the high expectations remain. This delay, along with the postponed applications submitted by companies like Grayscale ) and 21Shares, will provide regulators with more time to gather public opinion.

There are signs that Solana ETF demand will be very strong and will bring considerable capital inflows to the market. JPMorgan analysts predict that the SOL ETF could attract over $6 billion in capital inflows in its first year.

The recently approved Stakewise Staking ETF (SSK) has seen strong demand, which indirectly confirms the market's interest in cryptocurrency ETFs. Despite its fee rate being as high as 1.14% (significantly higher than most ETFs that are below 0.5%), its assets under management have quickly grown to $20.7 million.

In addition, spot Bitcoin and Ethereum ETFs have also recorded strong capital inflows this year. The total capital inflow for Bitcoin ETFs has approached $50 billion, while Ethereum ETFs have attracted approximately $4.46 billion.

Positive Crypto Policy: Solana Price Regains Support Solana price may also benefit from the upcoming "Crypto Legislation Week". Republicans plan to push three key cryptocurrency regulation bills.

The GENIUS Act has received bipartisan support in the Senate. This bill will be beneficial for Solana, as Solana is one of the main public chains for stablecoin trading, with a stablecoin supply exceeding $10 billion.

SOL Technical Analysis: Bullish Flag Pattern Indicates Potential Surge The daily chart shows that the Solana price has experienced a pullback over the past few weeks, falling from a high of $186.7 in May to the current level of $150.

Currently, the SOL price has successfully broken through the key SOL technical support level at the 23.6% Fibonacci retracement level located at $141.8. More importantly, it has effectively broken through the upper resistance of the descending channel formed since May 12.

This descending channel forms part of the Solana bullish flag pattern. At the same time, a head and shoulders bottom pattern has also formed on the chart.

Comprehensive technical pattern analysis indicates that the most likely scenario is that SOL price will rise to the May high of $186, representing a potential increase of about 23% from the current level. Once it effectively breaks through this resistance level, the upward target for SOL price is expected to look towards $297, with a potential increase of over 90%.

Breaking below the key support level of 127 dollars (the lowest point in June) will invalidate the bullish forecast for SOL price.