How high could SOL price go if a spot Solana ETF is approved?

SOL, Solana's native token, traded at $230, marking a 20% increase from its local low of $191. This rally is driven by optimism about the approval of spot Solana ETFs in the U.S., with deadlines approaching for nine applications from firms like VanEck and Fidelity. Analysts are predicting high chances of approval, which could spark substantial institutional investment. SOL's technical analysis indicates the presence of bull flag patterns suggesting potential price targets of $290 to $345, should it break through key resistances. The first flag targets $290 after breaking the $233 mark, while the larger flag projects a higher target at $345 following a breakout above $212. As bullish momentum builds, overcoming stiff resistance at $260 is essential for SOL to secure a sustainable uptrend. This scenario outlines a significant opportunity for traders if the ETF approvals come through, marking a pivotal moment for Solana in the institutional investment landscape.

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