TLDR:
- Lark Davis says the Solana RSI and MACD show bullish potential, with a W pattern forming toward the $250 level.
- GrayWolf6 notes a 10% bounce from the 200-day MA and trendline confluence, signaling strong market support.
- The SEC approved the 21Shares Spot Solana ETF for trading on the Cboe BZX Exchange, boosting investor optimism.
- Analysts say ETF approval and chart strength could combine to drive Solana’s price momentum toward $250.
Solana’s price is heating up again. Analysts are spotting early signs that the asset could be gearing for a major upside push. With momentum building and technical indicators flashing green, $SOL seems to be finding its rhythm.
Some traders now believe a breakout above resistance could open the path toward $250. The combination of strong chart setups and the latest ETF approval has fueled optimism across the crypto market.
Analysts Eye Solana (SOL) Price Chart Setup as Momentum Builds
Crypto analyst Lark Davis shared that Solana’s chart is showing signs of strength, noting improving technicals that could spark a new rally. He mentioned the RSI nearing a momentum breakout while the MACD trends toward a bullish crossover.
According to him, a potential double-bottom pattern is forming, which could confirm a breakout if price breaks its neckline. Davis added that holding above the 200-day EMA is key for bulls to maintain control.
Market observer GrayWolf6 echoed a similar outlook. He pointed out that Solana recently bounced over 10% after touching both the rising trendline and the 200-day moving average. He described this confluence as a healthy setup within an ongoing uptrend.
In his post, he said he added to his position during the retest, aiming to manage risk while keeping his target around $250.
The market appears to be responding to these levels with renewed enthusiasm. Traders are treating the 200-day EMA as a crucial area of interest, with several noting that holding above it could sustain bullish momentum.
The tone across trading circles has shifted from caution to quiet confidence, as SOL’s structure continues to show resilience.
Solana ETF Approval Adds Fuel to the Rally Outlook
Beyond the charts, new developments around the Solana ecosystem are adding to investor confidence.
Analyst MartyParty reported that the U.S. Securities and Exchange Commission approved the 21Shares Spot Solana ETF (ticker: VSOL) for listing on the Cboe BZX Exchange on October 17, 2025.
The approval followed the exchange’s earlier rule change under the SEC’s generic standards for commodity-based trust shares, allowing spot Solana ETFs to list without separate reviews.
The fund will track the Solana-Dollar Reference Rate and hold physical SOL tokens, with an optional staking feature to generate yield.
According to the filing, trading is expected to begin soon once the S-1 registration becomes effective. This marks a milestone for Solana’s market presence, positioning 21Shares ahead of other ETF issuers like Bitwise and VanEck.
Market participants see this as a confidence boost for Solana, especially as it aligns with broader demand for spot crypto ETFs. With strong technical signals and institutional-grade exposure through the ETF, the setup could support a steady climb toward higher targets.
The post Why Solana (SOL) Price Could Be Set for a Rally to $250 appeared first on Blockonomi.
Source: https://blockonomi.com/why-solana-sol-price-could-be-set-for-a-rally-to-250/