The Solana SOL cryptocurrency is reversing the 22% drop it has seen in the past month as the first SOL ETFs inch closer towards SEC approval. The launch of the first Solana ETF could mean wonders for SOL, setting it on a surging path that mimics Bitcoin and Ethereum following their respective ETF launches.

The cryptocurrency market has been increasingly volatile throughout 2025 so far. Although the asset class has seen the quest for favorable regulation as promising as it ever has been, that hasn’t been the case for prices. Although Solana has struggled in the market with a continued decline, experts are still hopeful for a near 100% upside towards $200.

On Friday, four major accounts released SOL tokens worth over $200 million into the market. This event stands as the largest single-day unlock of staked SOL until 2028. The four accounts initially staked these tokens back in April 2021 and have seen around 5.5x returns on their investments at current market prices. Many traders and investors are keeping a close eye on this event, as the increased selling pressure could potentially impact Solana SOL.

Additionally, hopes of the first Solana SOL ETF approval are fueling a potential rebound for the altcoin back towards $200. Fidelity Investments’ filing for a spot Solana ETF has been officially acknowledged by the U.S. SEC. After the initial submission on the 25th of March, Fidelity filed a revised version—Amendment No. 1—on the 1st of April to clarify technical details and the proposed rule changes. While it is just an acknowledgment, the SEC’s move is the first towards the long path of approving and launching a SOL ETF. The acknowledgment also paves a path for other altcoins like LTC and XRP to get their ETF applications approved.

SOL is trading at around $120, above a critical Fibonacci support zone between $100 and $115. This price range has historically served as strong support, potentially providing an opportunity for early accumulation. However, if this support fails to hold, the next significant support level sits between $50 and $72 (identified as Support 2). Previous rebounds from this range have triggered substantial rallies, including a massive 2,100% increase during 2020-2021. Analysts have also identified a critical resistance level at $186. A successful breakout above this threshold could send Solana SOL towards $200 again.

The Solana SOL cryptocurrency is reversing the 22% drop it has seen in the past month as the first SOL ETFs inch closer towards SEC approval. The launch of the first Solana ETF could mean wonders for SOL, setting it on a surging path that mimics Bitcoin and Ethereum following their respective ETF launches.

The cryptocurrency market has been increasingly volatile throughout 2025 so far. Although the asset class has seen the quest for favorable regulation as promising as it ever has been, that hasn’t been the case for prices. Although Solana has struggled in the market with a continued decline, experts are still hopeful for a near 100% upside towards $200.

On Friday, four major accounts released SOL tokens worth over $200 million into the market. This event stands as the largest single-day unlock of staked SOL until 2028. The four accounts initially staked these tokens back in April 2021 and have seen around 5.5x returns on their investments at current market prices. Many traders and investors are keeping a close eye on this event, as the increased selling pressure could potentially impact Solana SOL.

Additionally, hopes of the first Solana SOL ETF approval are fueling a potential rebound for the altcoin back towards $200. Fidelity Investments’ filing for a spot Solana ETF has been officially acknowledged by the U.S. SEC. After the initial submission on the 25th of March, Fidelity filed a revised version—Amendment No. 1—on the 1st of April to clarify technical details and the proposed rule changes. While it is just an acknowledgment, the SEC’s move is the first towards the long path of approving and launching a SOL ETF. The acknowledgment also paves a path for other altcoins like LTC and XRP to get their ETF applications approved.

SOL is trading at around $120, above a critical Fibonacci support zone between $100 and $115. This price range has historically served as strong support, potentially providing an opportunity for early accumulation. However, if this support fails to hold, the next significant support level sits between $50 and $72 (identified as Support 2). Previous rebounds from this range have triggered substantial rallies, including a massive 2,100% increase during 2020-2021. Analysts have also identified a critical resistance level at $186. A successful breakout above this threshold could send Solana SOL towards $200 again.