SOL ETF

Solana

Strong

<ul>
 <li>Solana price observed a decline of 2.36% in the last seven days.</li>
 <li>The SOL ETF approval deadline is expected to fall in mid-March 2025, says famed ETF analyst.</li>
</ul>
Solana has witnessed a minimal spike in the last 24 hours, hitting the $145 mark after an intense bearish weekly performance. As the bears dominate the SOL market, the price volatility intensifies, and fluctuates, leaving traders anxious.&nbsp;
Notably, in the last 24 hours, SOL recorded a high of $145.88 and a low level of $138.78. Its daily trading volume declined by 34.13% to $2.15 billion. At the press time, Solana was trading at $142 with a market cap of $66 billion, according to <a href="https://coinmarketcap.com/currencies/solana/#Chart" target="_blank" rel="noopener noreferrer nofollow">CMC</a> data.&nbsp;
Meanwhile, Solana exchange-traded funds (ETFs) grab the market’s attention, spurring the anticipation. Bloomberg ETF analyst, Eric Balchunas <a href="https://x.com/EricBalchunas/status/1810425019853324721" target="_blank" rel="noopener noreferrer nofollow">notified</a> on X, that Solana <a href="https://thenewscrypto.com/cboe-files-form-19b-4s-for-solana-etfs-sec-has-until-mid-march-2025-to-respond/" target="_blank" rel="noopener noreferrer nofollow">ETF</a>s are expected to have a final deadline of mid-March 2025. The Chicago Board Options Exchange (CBOE) has submitted a 19b-4s application to the <a href="https://thenewscrypto.com/us-senate-urges-blockchain-testing-for-national-security/" target="_blank" rel="noopener noreferrer nofollow">United States</a> Securities and Exchange Commission (SEC) for the approval of Solana ETFs listing.
<h3 class="wp-block-heading" id="h-will-sol-dip-further">Will SOL Dip Further?&nbsp;&nbsp;</h3>
Evaluating the past week, Solana’s price performance has declined by 2.36%. It marked the weekly low at the $122 level. When looking at the monthly price momentum, a steady drop of 10.46% is noted. At the start of July, SOL began with a high of $154.71 but it slid down to a low of $122.7.&nbsp;
As per the 24-hour price chart, Solana’s daily RSI stood at 50.05, indicating the asset is in the neutral zone. Moreover, at press time, the token’s short-term 9-day MA stays slightly below the current trading price. This indicates the SOL’s brief slip into the bullish zone, as per the TradingView data.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXevgQyGfsAP2BZJUowx__a3DVhMfbtNP74uVAD9dOM23QRiZ4927ZSQ0zfPchWPyY82LQW3U9PDD2QTEy2uFoIhfjMgcMR-Waa-mHO7TXX732qFgA9zXpvBMQdM15yXb1m6mz60aU2BE5YRFRCm0cPp5NFR?key=Ow4RlmopugQCJWXg_aOslg" alt="">
 <figcaption class="wp-element-caption">SOL Price Chart (Source: TradingView)
 </figcaption>
 </figure>
</div>
Assuming the SOL revival, the initial resistance could be at $151, and the subsequent resistance level to be found at $160. Conversely, if SOL can’t maintain its price momentum, it may bottom to the immediate support at $133. Furthermore, a strong bearish trajectory could take the price down to the $124 range.&nbsp;
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Will Solana (SOL) Experience a Strong Bearish Trend Soon?

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