Solana Price Prediction: Rally to $520 As Uptober Unfolds

Solana price chart has surged more than 18% in a week, with further upside expected by experts as market sentiment improves amid ‘Uptober’.

A popular analyst has shared a massively higher Solana crypto price prediction of $520. Meanwhile, Bloomberg’s senior ETF analyst has declared the odds of Solana ETF approval at 100%, just as the U.S. SEC’s final deadline approaches.

Experts anticipate an order on approval next week after reports claimed at least a week of government shutdown.

Solana Price Prediction to $520

Crypto analyst Ali Martinez shared an analysis showing a massive parabolic run in case Solana crypto price breakout. He made a bold Solana price prediction of $520.

According to the weekly chart, SOL price could rally if it breakout above $260. Also, a weekly close above $260 could trigger a parabolic rally, with the price currently moving in the ascending channel.

The price action shows that Solana crypto has already recovered from its late-September decline, breaking above key resistance levels at around $211 and $222.

A clean breakout above $260 will confirm the shift in market structure, potentially rallying to its previous ATH of $294.

Further breakout amid support from massive trading volume can take it to $520, as per the analyst.

Rekt Capital, one of the top analysts, also pointed out that SOL price confirmed a monthly close below the macro downtrend.

However, SOL turned it into support on the first day of the new month of October. The safest long bet to take is a reclaim of $253, considering the massive Solana price prediction.

Meanwhile, analyst Ted Pillows highlighted a $200 million long position liquidation risk in the $200-$220 range.

If a correction happens due to a downside liquidity sweep, “it won’t necessarily be a bearish thing,” he added.

He cited strong support at $200 as the reason behind his bullish outlook. Whales and institutions will hedge against a fall below $200 as they opened long positions.

Whale Accumulation as SOL ETF Approval Deadline Approaches

Bloomberg senior analyst Eric Balchunas raised the odds of Solana ETF approval from 95% to 100%, as The Coin Republic reported earlier this week.

This comes as October 10 marks the final date for Solana ETF approval by the US SEC.

Balchunas explained that the odds had shifted from highly likely to certain. With the approval, whales and other investors will contribute to Solana price rally.

Whales have already started buying amid massive Solana price prediction by analysts. Whale Alert reported 400,000 SOL worth more than $92 million transferred from Binance to a wallet.

Massive SOL movements from whales were noted in the last few days, worth billions. SOL price could rally massively with support from whale accumulations, as historical data suggests.

Meanwhile, CoinShares flow reports have clearly shown an increase in demand from institutions in anticipation of spot Solana ETF launch in October.

While the US government shutdown has delayed ETF decisions, experts believe the approvals could come immediately as the government reopens.

The new General Listing Standards for crypto ETFs will also drive more demand from institutions. In fact, Morgan Stanley plans to offer Solana trading to its clients via its E-Trade platform.

SOL price lost over 3% in the past 24 hours, with the price currently trading at $226.315. The intraday low and high were $226 and $234, respectively.