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Polymarket data suggests a 93% likelihood of a Solana ETF gaining approval in 2025, intensifying discussions about SOL price’s future trajectory. This comes as Rex Shares filed for several crypto ETFs, including the Solana ETF. The growing optimism surrounding Solana has sparked predictions of the token reaching $400 or more in the coming months.
SOL Price to Rally Amid Solana ETF Hopes
On January 20, 2025, Solana traded at around $247, with price fluctuations marking an intraday high of $276.79 and a low of $231.70. The cryptocurrency’s recent performance has attracted attention, particularly after it recorded a new all-time high of $293 on the previous day. This milestone has led analysts to anticipate further bullish movement in the market.
Technical analysis reinforces this positive sentiment. Based on TradingView’s metrics, Solana is rated as a “strong buy.” Key indicators, such as moving averages and oscillators, reflect upward momentum. However, the Relative Strength Index (RSI) indicates the asset is nearing overbought conditions, suggesting heightened buying activity.
🚨 JUST IN:
As per @Polymarketthe odds of a Solana ETF approval in 2025 just hit an all time high of 93% pic.twitter.com/A6fVAncABs
— FOMO (@magFOMO) January 21, 2025
Investors are closely monitoring this metric, as a breach of overbought thresholds could signal potential price corrections. Long-term projections for Solana price remain optimistic. Longforecast.com predicts the token will hit $413 by May 2025, potentially climbing to $507 in June. Coincodex analysts share similar expectations, projecting a rise to $429 by mid-2025, with an anticipated peak of $557 by August.
Market enthusiasm has been bolstered by SOL’s ability to consistently surpass key resistance levels, a factor many attribute to increased institutional interest. The anticipated Solana ETF approval is seen as a significant catalyst, with experts suggesting it could further amplify the asset’s appeal among mainstream investors.
Also Read: REX Shares Files For XRP, DOGE, BONK, SOL, TRUMP ETFs
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