Solana Rally in Sight? Traders Eye Breakout That Could Push SOL Toward $250

Solana (SOL) is once again back in the spotlight as bullish momentum returns to the crypto ￰0￱ briefly touching $212 last week, the altcoin retraced to around $209 but has held strong, sparking renewed optimism among ￰1￱ Reading: Bitcoin LTH Aging Velocity Turns Negative: Distribution Phase Unfolds Analysts now see a potential rally toward the $250 level, supported by growing institutional flows and speculation around a Solana spot ￰2￱ Wallet’s CMO Jamie Elkaleh noted that “ETF conversations around SOL are further amplifying interest,” pointing to the more favorable regulatory tone emerging in the ￰3￱ watchers believe a Solana ETF could drive adoption at scale, positioning SOL as one of the strongest altcoins to buy ahead of the next wave of institutional ￰4￱ ETF Buzz Fuels Momentum for Altcoins Solana isn’t the only digital asset grabbing ￰5￱ Street analysts increasingly expect the ￰6￱ to broaden ETF approvals beyond Bitcoin and ￰7￱ the top contenders are Solana, XRP, and Cardano, three coins that already boast high liquidity and established derivatives markets.

Bloomberg’s James Seyffart suggested that assets like Solana and XRP are “well-positioned to qualify under existing listing rules,” with institutional demand likely to surge once funds ￰8￱ approved, the introduction of a Solana ETF could trigger a demand shock, unlocking new inflows and strengthening its long-term market ￰9￱ Traders Are Watching SOL Closely Beyond ETF speculation, Solana’s on-chain growth continues to capture ￰10￱ network recently hit a milestone with Real World Assets (RWAs) surpassing $500 million, underscoring growing institutional adoption of tokenized traditional ￰11￱ the same time, Solana has maintained strong trading activity, with daily DEX volume reaching nearly $7.93 billion, even outpacing ￰12￱ the technical front, SOL is showing signs of ￰13￱ at around $209.30, the token sits comfortably above key moving averages, with the 7-day SMA at $206.70 providing immediate support.

SOL's price trends to the upside on the daily chart.