Solana price rebounds as institutional interest and ETF optimism grow, signaling a possible rally toward $320.
The Solana price is poised for a surge, according to crypto analyst Inmortal, as institutional interest accumulates. As Solana ETF applications from significant financial institutions, such as Grayscale, VanEck, 21Shares, Canary, and Franklin Templeton, advance toward potential approval, this favorable analysis occurs.
Institutional interest is stimulated by the anticipation of the SOL ETF
The potential for spot Solana ETFs is generating significant institutional interest, and prediction markets indicate an increase in regulatory approval confidence. The probability of the U.S. Securities and Exchange Commission authorizing spot SOL ETFs has increased to 82%, as indicated by Polymarket data. If this occurs sooner or later, the price of Solana may increase significantly.
A few substantial financial institutions have submitted applications for Solana ETFs. Grayscale, VanEck, 21Shares, Canary, and Franklin Templeton are among the institutions that fall under this category. The demand from prominent asset managers suggests the robust institutional demand for Solana’s regulated investment products.
The 2X Solana ETF (SOLT), a leveraged ETF that has consistently added new money since its launch in February, already provides users with evidence of that demand. According to the ETF data, the ETF has added nearly $30 million in new capital and has not experienced a single month in which the amount of money flowing out has exceeded the amount flowing in since its inception.
The monthly inflow statistics for SOLT indicate that investors are interested in purchasing it. In February, the amount was $5.5 million, followed by $8.3 million in April and $9.6 million this month. The trend of increasing inflows indicates that investors are becoming more optimistic about the trajectory of the Solana price.
Solana’s price may target $320
Following its all-time peak of $293.31 on January 19, 2025, Solana’s current price movement is a component of a broader recovery initiative. SOL has been endeavoring to regain the distance it has lost in the four months since that peak. The SOL price is approximately 41.5% below the record level.
The recent price action of Solana suggests that there are favorable signs of strength developing across various time horizons. Although the 24-hour and 7-day advances are modest at 1.4% each, the medium-term trends suggest that there has been more expansion, as evidenced by the 32.8% increase in the past month.
The increasing growth rate over progressively longer timeframes indicates a strengthening uptrend rather than a short-term fluctuation. Technical support for the prospective move toward the $320 target identified by analyst Inmortal is provided if this pattern persists.
The chart pattern indicates that SOL underwent a correction following the January peak, followed by establishing a base and initiating its current recovery phase. The Solana price has recently found support at previous resistance levels, as evidenced by the recent price action. This traditional technical pattern frequently corresponds with an ongoing upward trend.
The upcoming weeks could determine whether the recovery accelerates toward the projected $320 target as SOL approaches the $180 resistance level identified by analyst Inmortal. Additionally, market analysis has identified $170 and $161 as the Solana price levels to monitor as FTX prepares a $5 billion payout.
