The price of Solana (SOL) is showing a bullish momentum as it has formed a bull flag pattern on the daily chart, targeting a price of $300. This technical formation suggests strong upward momentum following a prior price rise. As SOL potentially breaks above the upper trendline of this pattern, it could see significant gains, with analysts suggesting targets of $200, $300, and even $500 due to increasing network activity and fund inflows from other chains. Furthermore, the likelihood of the approval of a spot Solana ETF by the US Securities and Exchange Commission has surged to 99.7%, indicating strong investor confidence. Major asset management firms are showing robust demand for regulated SOL investment vehicles, and the approval could unlock institutional capital, significantly amplifying demand for SOL. Experts believe that a wave of new ETFs is expected in the latter half of 2025, further solidifying the positive outlook for Solana.

Source đź”—