The Solana Sol Cryptocurrency has reversed the 22% decline seen in the past month, bringing the first Sol ETF close to SEC approval. The launch of the first Solana ETF means wonder for Sol, and could set it up in a surged route that mimics Bitcoin and Ethereum following the launch of each ETF.
The cryptocurrency market has been increasingly unstable throughout 2025 so far. Asset classes see as much of a promising quest for regulations as ever, but that wasn’t the case for price. Solana is struggling with the market with its continued decline, but experts are hoping for a 100% rise near $200.
On Friday, four major accounts released Sol Tokens, which amounted to over $200 million, to the market. The event is now unlocked for the largest day of Sol that has soaked into 2028. The four accounts first bet on these tokens in April 2021, receiving approximately 5.5 times the investment at current market prices. Many traders and investors are paying attention to this event as increased sales pressure could affect Solanasol.
Additionally, hopes for approval for the first Solana Sol ETF have driven Altcoin’s potential rebound to $200. Fidelity Investments submissions to the Solana ETF spot are officially recognized by US Sec. After its first submission on March 25th, Fidelity submitted its revised first revised version on April 1st, clarifying technical details and changes to the proposed rules. It’s just approval, but the SEC move is the first to go a long way towards endorsing and launching the Sol ETF. The acknowledgement also paves the path for other altcoins such as LTC and XRP to approve ETF applications.
Sol is trading for around $120, surpassing the key Fibonacci support zone between $100 and $115. This price range has historically served as a strong support. It provides potentially early accumulation opportunities. However, if this support is not retained, the next important support level will be between $50 and $72 (identified as Support 2). Previous rebounds from this range have led to significant gatherings, including a significant increase of 2,100% between 2020 and 2021. Analysts have also identified a significant resistance level of $186. A successful breakout that exceeds this threshold could lead to Solana Soll again at $200.
