Solana (SOL) is struggling to hold momentum after a recent rejection, with the price hovering around $190.
Despite being up 5.17% over the past week, the token dropped 5.24% in market cap overnight, now standing at $102.31 billion. The pullback comes as both technical and regulatory pressures weigh on traders’ confidence.
ETF Delays Weigh on Sentiment
The U.S. Securities and Exchange Commission (SEC) has once again postponed decisions on seven Solana ETF applications, including filings from Grayscale and Bitwise. The new deadline is set for October 16, 2025, mirroring the regulator’s cautious stance toward altcoin-linked financial products.
The delay has immediate consequences for traders and institutions. According to Polymarket, approval odds for a Solana ETF in 2025 have dropped to 75%. This has sparked uncertainty and some unwinding of positions that were built on expectations of earlier approval. Large holders are reportedly hedging ahead of the decision, especially with the Federal Reserve’s interest rate meeting scheduled for September 18.
Technical Outlook: $176 Support and $207 Breakout Levels
Technical analyst Ali highlighted that Solana faces strong resistance around $200. He suggests two possible entry points for investors: a dip buy near $176 or a breakout confirmation above $207. In either scenario, the longer-term target remains at $300.
The 30-minute chart shows SOL struggling to maintain stability after dipping from recent highs above $210. Indicators are neutral, with RSI hovering near 47 and MACD showing mixed momentum signals, suggesting further volatility is likely.
Market Reaction and What’s Next
Despite short-term weakness, Solana continues to attract attention due to its strong ecosystem growth in NFTs, DeFi, and gaming. Traders are now closely watching whether SOL can defend its ascending support line and avoid a deeper correction.
The key dates ahead are September 18, when the Fed announces its next rate decision, and October 16, when the SEC must respond to the pending ETF filings. Any positive updates could help SOL reclaim bullish momentum, but uncertainty remains elevated until then.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/solana-in-trouble-price-drops-after-sec-etf-delay-whats-next-for-investors/