Analyst Projects Solana Price Surge to $360 Despite SEC ETF Delay to October

The Solana price is showing signs of renewed momentum as market participants anticipate a potential breakout. Solana, trading at $193.67, is closing in on a key resistance level that will decide its next big move. According to one analyst, a moderate pullback may be the final buy-the-dip chance before the asset heads to higher grounds. This setup is in line with the rising speculation about future regulatory decisions. 

Solana Price Action Suggests A Major Breakout Could Be Near

The recent Solana price forecast points to a possible rally toward $360 after a short-term retracement. In a recent X post, analyst Ali said SOL will re-test the ascending trendline support before a multi-stage breakout. 

On the daily timeframe, the price is consolidating at the level of $210, which is a historically strong resistance level. Provided that this resistance is overcome, Fibonacci extensions indicate that the upside targets could be at $250, $310, and finally, at 360. 

But rejection would take the price to the $175 area to re-accumulate. Thus, traders are paying close attention to price action around the breakout area. The bullish pressure is increasing as indicated by the ascending triangle pattern on the one-day timeframe.

The presence of higher lows since April has supported the upside momentum, and every time it has fallen it has been bought back strongly. This formation implies that a decisive breakout may generate a large amount of volume. Therefore, the analyst is still hopeful that the Solana price will test its upper resistance in the near future. 

However, caution in the market remains due to the closeness of macro events. Breakouts without a good volume confirmation could be subject to quick reversals. As a result, most traders are waiting until there is a convergence of technical and fundamental triggers before taking aggressive stances on Solana price prediction 2025.

SEC Postpones ETF Ruling, Adding Short-term Uncertainty To Solana’s Path

The Bitwise Solana ETF and the 21Shares Core Solana ETF both have their ruling by the U.S. SEC delayed until October 16, 2025. This delay implies that traders will have to wait longer to understand whether wider institutional access to Solana will come to fruition.

The approval of a spot SOL ETF would allow conventional brokerage accounts to provide Solana exposure, which could unlock new sources of liquidity. However, the postponement introduces uncertainty, which can kill short-term enthusiasm. 

The reaction of the market usually depends on the events related to ETFs, and now the ruling of October has become one of the most important catalysts. A positive outcome would boost any technical breakout, while another stall or refusal would lead to profit-taking. 

To sum up, Solana’s price outlook remains bullish, with $360 still reachable provided technical and regulatory conditions align. A breakout above $210 can accelerate momentum to significant Fibonacci levels. However, the delay in the ETF ruling introduces some short-term uncertainty to traders. But overall, the analyst’s target remains achievable.

Coingape Staff

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