Key Insights:
- Top analyst said that Solana price is gearing up for a potential breakout toward $255.
- SOL technical setup is nearing a change of character (CHOCH) while steadily holding above a rising trendline.
- Bloomberg senior analyst Eric Balchunas suggested the approval of an SOL ETF is now guaranteed, with odds reaching 100%.
Solana price is pointing to a potential breakout toward $255 after a strong structural recovery. At the same time, Bloomberg’s senior ETF analyst has declared the odds of a U.S. Solana ETF approval at 100%, a call that could reshape market sentiment.
Together, these factors set the stage for what may be a pivotal moment in Solana’s ‘Uptober’ trajectory.
Analyst Signals Solana Price Breakout to $255
Crypto analyst Kamran shared an analysis on X showing an imminent Solana price breakout. He has highlighted how the altcoin is approaching a crucial structural shift.
According to his chart, SOL price is nearing a change of character (CHOCH) while steadily holding above a rising trendline. It is a combination that often signals the early stages of a bullish reversal.
The price action shows that Solana has already recovered from its late-September decline and is now testing an important horizontal level around $210.
A clean break above this region would confirm the shift in market structure, potentially unlocking further upside momentum.
From there, Kamran outlines a likely path toward the major resistance zone between $250 and $255. This area has capped previous rallies, making it a decisive battleground for bulls and bears.
If Solana manages to clear it with conviction, the move could mark the beginning of a stronger uptrend.
In the short term, however, traders should also expect periods of consolidation. Kamran’s projection illustrates possible pullbacks along the trendline as buyers and sellers contest control.
Nevertheless, the broader structure favors accumulation rather than distribution, which keeps the overall bullish scenario intact.
Senior Bloomberg Analyst Puts SOL ETF Approval Odds at 100%
Bloomberg senior analyst Eric Balchunas suggested on Monday that the approval of an Solana ETF from the US SEC is now essentially guaranteed.
In a post on X, he explained that the odds had shifted from highly likely to virtually certain. This approval, once happens, could provide a significant boost to Solana price.
“Honestly, the odds are really 100% now,” Balchunas wrote. He noted that the new listing standards have rendered the traditional 19b-4 process and its 240-day review “clock” irrelevant.
Previously, any 19b-4 filing would start a statutory countdown, giving the SEC up to 240 days to issue a decision on whether an ETF could move forward.
With that requirement now removed, the approval path appears clearer and faster than before.
Earlier this month, the SEC approved new “generic listing standards,” a move that effectively removed the lengthy review timeline tied to 19b-4 filings.
As a result, the approval process for fresh ETFs now depends mainly on the S-1 registration statements, which require a separate green light from the agency’s Division of Corporation Finance.
Eric Balchunas noted that this shift leaves only the S-1 filings in play. He explained that the fourth amendment for Solana had already been submitted and suggested that approval could arrive at any moment.
According to him, the launch window is now wide open, and the market should be prepared. In other words, the market participants are eyeing a major rally in Solana price after the SOL ETF approval.
Meanwhile, Solana Floor noted that the total market capitalization of stablecoins on Solana had climbed to a new all-time high of $13.8 billion. This has also fueled market confidence, especially amid soaring demands for stablecoins globally.
During writing, the price of SOL traded at $210 against the US dollar following a monthly uptick of 3.72%.