Solana's price has rebounded to $205.36, up 6.6% in the past 24 hours, after a recent downturn that saw it drop below $190. The recovery is fueled by growing optimism around Solana exchange-traded funds (ETFs), with asset manager VanEck submitting an updated filing for a Solana Staking ETF with a proposed fee of 0.30%. The SEC's first decision on these ETFs is due by October 16, 2025, and several other applications from firms like Bitwise, Fidelity, Franklin Templeton, CoinShares, and Grayscale are under review.
Institutional interest is strengthening, as Solana treasury company Solmate announced a $50 million direct acquisition of SOL, and total treasury holdings now exceed 20.12 million SOL, representing 3.5% of the total supply. Companies like Forward Industries and Solana Company lead these holdings, with many committing to long-term accumulation strategies. Additionally, whales withdrew $169 million worth of SOL from exchanges, indicating accumulation behavior, and retail traders show 76% net long positions on Solana, a historically bullish signal that has preceded positive price returns.
On the technical front, Solana's RSI has climbed to 46.82, indicating improving momentum, and the Chaikin Money Flow (CMF) is at +0.23, suggesting capital inflows. However, trading volume remains low, and resistance is noted at the $210–$225 range. For a confirmed trend reversal, Solana needs to close above $210, with the price currently testing key support levels after finding a base near $180.
