Solana price is gaining renewed momentum as ETF inflows surge and key technical levels hold, signaling the potential start of a major bullish breakout.
Strong demand around the $200 mark and surging ETF volumes are fueling optimism in Solana’s price outlook. The Bitwise Solana Staking ETF (BSOL) has already pulled in tens of millions in trading activity within days, reinforcing the idea that institutional capital is quietly building exposure.
ETF Momentum Adds Confidence to Solana’s Outlook
Trading data shared by Eric Balchunas shows the Bitwise Solana Staking ETF (BSOL) recording over $72 million in trading volume on Day Two, a notable increase from its $57 million debut session. Such a strong follow-up indicates rising institutional participation and liquidity depth, two critical factors that often precede sustained price expansion.
Solana’s ETF trading volume surges past $72 million on Day Two, signaling strong institutional demand and growing market confidence. Source: Eric Balchunas via X
The consistent volume across sessions suggests that investor interest is not speculative but rather accumulative. Historically, ETFs that maintain early momentum often act as catalysts for their underlying assets. In Solana’s case, this reinforces confidence in its growing adoption narrative and strengthens the case for higher price targets heading into November.
Solana Price Prediction: Elliott Wave Hints at Major Breakout
Chart analysis from NekoZ suggests that Solana price may be at the start of a 5-wave Elliott Impulse sequence. After successfully breaking above the descending trendline, SOL is showing the kind of structural recovery that often marks the transition from correction to expansion.
Solana’s chart shows a potential 5-wave impulse structure forming, hinting at a bullish reversal towards the $295–$380 range. Source: NekoZ via X
Key technical levels to watch are $194 as immediate support and $295 as the major resistance. Holding above the $194 to $200 range could trigger the next upward leg towards $295, followed by a possible extension towards $360 to $380 if wave 3 accelerates. This setup implies that Solana price could be entering a new bullish cycle phase, with volume confirmation adding conviction to the bullish thesis.
Short-Term Solana Price Analysis
TraderAG’s chart outlines Solana’s near-term technical roadmap clearly, $195 has held firm as local support, creating a base for continuation. The Solana price structure shows repeated rejections turning into higher lows, indicating demand absorption near this level.
Solana maintains strong short-term momentum, with $200 acting as a firm support level and $250 emerging as the next key resistance. Source: TraderAG via X
A clean break and acceptance above $206 would open the path towards $220 to $225, with $250 standing as the next major resistance zone. The short-term momentum remains constructive as long as SOL stays above the 4-hour EMAs, which are currently trending upward. Failure to hold $195, however, could result in a minor pullback before resumption, but momentum bias remains bullish.
$180 Support Zone Remains the Key Battleground
Solana continues to consolidate just above the $180 support, a level that has acted as the foundation for multiple rebounds since mid-October. This range compression pattern is tightening, indicating that a significant move is likely approaching.
Solana consolidates above the crucial $180 support, with traders watching for a breakout that could quickly propel prices beyond $220. Source: Matt via X
If the $180 to $185 zone continues to hold, the next impulse could push prices beyond $220 swiftly, especially if accompanied by strong macro tailwinds or positive FOMC outcomes. On the other hand, a loss of this support would delay the bullish breakout but wouldn’t invalidate the broader uptrend.
Final Thoughts
With ETF inflows accelerating, technical formations aligning, and macro support levels holding strong, Solana’s market structure appears primed for continuation.
The convergence of institutional demand, trendline breakouts, and higher low formations all signal that the $200–$220 range could serve as the launch zone for the next impulsive rally. If the $180 floor continues to hold through early November, Solana price prediction may target the $295 to $300 resistance region.