- Technical analysis shows short-term correction but bullish medium to long-term trend
- ETF application and technical upgrades drive market optimism
- Institutional interest and technical support form price bottom
SOL Price Prediction
SOL Technical Analysis: Short-term Correction but Long-term Trend Remains Bullish
According to BTCC financial analyst John's technical analysis, SOL's current price is 148.04 USDT, below the 20-day moving average of 157.8495, indicating potential short-term pressure. The MACD indicator shows a negative value (-0.7444), suggesting weak short-term momentum. However, the Bollinger Bands show the price is near the lower band at 139.8196, which may provide support. John believes that while short-term correction may continue, the medium to long-term trend remains bullish.
SOL Market Sentiment: ETF Application and Technical Upgrade Drive Optimistic Expectations
BTCC financial analyst John points out that major asset management companies submitting updated Solana ETF application documents, along with the expected Firedancer upgrade, provide strong fundamental support for SOL price. Despite current market concerns about meme coins, institutional investor interest and positive technical upgrades may drive SOL's impressive performance in June. John emphasizes that these factors, combined with technical support levels, enhance the market's bullish sentiment.
Factors Affecting SOL Price
Major Asset Management Companies Submit Updated Solana ETF Application Documents, Suggesting Potential Approval
Grayscale, VanEck, Franklin Templeton, and Galaxy Digital have submitted updated S-1 documents for their proposed Solana ETF, with Grayscale disclosing a potential annual management fee of 2.5%. Fidelity Investment submitted its first Solana ETP application document on Friday.
The SEC's request for updated documents indicates stricter review of Solana-related products. Bloomberg analyst Eric Balchunas interprets this as a potential approval within 2-4 months. This regulatory move continues the milestone of Bitcoin ETF approval earlier this year.
Solana becomes the third cryptocurrency after Bitcoin and Ethereum to receive serious consideration for ETF applications from traditional financial institutions. Despite being classified as a potential security in SEC litigation, this wave of applications still shows increased confidence from institutional investors in SOL's market position.
Solana Tests Key Support Level: Institutional Targets and Meme Coin Doubts Create Market Tug of War
Solana's SOL token dropped 7.87% to $142.13 during intense volatility, then slightly recovered to $147.07, reflecting overall cryptocurrency market turbulence. This selloff has brought SOL price down 40% from its March high, despite Standard Chartered's year-end target price of $275, highlighting the contradiction between institutional optimism and retail-driven volatility.
Technical charts show buying interest around the $143.50 support level, with surging volume. Breaking the $152 resistance could reverse the bearish trend, but the gap between the current price and the bank's $500 2029 target still underscores SOLana's high-risk, high-reward nature.
"The collision of high-performance chain technology and meme coin frenzy" - Standard Chartered's divergent view precisely captures Solana's dual nature: a technologically leading blockchain and a tool for retail speculation. The consolidation pattern since UTC 02:00 suggests new momentum is brewing, and traders must determine whether the current correction is a structural weakness or a buying opportunity.
Solana's Bright June Prospects: ETF Fever and Firedancer Upgrade Drive Bullish Sentiment
Despite recent volatility, Solana's native token SOL shows bullish potential for 2025. The asset plummeted 16.5% after reaching $168 last week and is currently testing the critical $140 support level - exactly the 50% Fibonacci retracement of the recent rally.
Since rebounding from the $95 low in April, the network has shown remarkable resilience, with SOL surging 99% to $187 in early June. Market participants attribute this strength to two catalysts: growing spot Solana ETF expectations and the upcoming Firedancer upgrade aimed at enhancing network performance.
Institutional interest seems to be heating up, with DeFi Development Corporation securing a $5 billion equity financing line from RK Capital MANAgement to accumulate SOL positions. These developments reinforce analysts' predictions of new historical highs, although technical indicators suggest a potential consolidation before the next rally.
SOL Price Prediction: 2025, 2030, 2035, 2040 Outlook
Based on BTCC financial analyst John's analysis, SOL's price predictions are as follows:
| Year | Price Prediction (USDT) | Key Driving Factors |
|---|---|---|
| 2025 | 180-250 | ETF Approval Expectations, Firedancer Upgrade |
| 2030 | 500-800 | Increased Institutional Adoption, Ecosystem Expansion |
| 2035 | 1,200-2,000 | Mainstream Financial Integration, Web3 Mass Adoption |
| 2040 | 3,000-5,000 | Global Digital Asset Adoption Maturity |
John emphasizes that these predictions are based on current trends and actual performance may vary due to regulatory changes, technological breakthroughs, and market volatility.
