Analyst predicts Solana price rally to $360 as SOL ETF delay to October adds uncertainty but keeps long-term bullish outlook intact.
As traders wait for a possible breakout, Solana price is exhibiting indications of fresh vigor.
At $193.67, Solana is getting closer to a crucial resistance level determining its next significant move.
According to one analyst, a moderate retreat could be the last opportunity to purchase the dip before the asset moves higher.
This arrangement is consistent with the growing conjecture on upcoming regulatory rulings.
Solana Price Action Indicates That Significant Breakout May Be Imminent
Following a brief reversal, the current Solana price projection suggests a potential recovery toward $360.
In a recent X article, analyst Ali stated that SOL will re-test the ascending trendline support before a multi-stage breakout.
The price stabilizes at $210, a historically significant resistance level, on the daily timeframe.
According to Fibonacci extensions, if this barrier is broken, the upside goals may be $250, $310, and $360.
However, rejection would cause the price to re-accumulate around $175.
As a result, traders are closely monitoring the price movement surrounding the breakout region.
The ascending triangle pattern on a single day indicates that the bullish pressure is rising.
Higher lows since April have helped to sustain the upward trend, and each time it has dropped, it has been sharply recovered.
This pattern suggests that a significant breakout might produce a lot of volume.
As a result, the analyst remains optimistic that the price of Solana will soon test its upper resistance.
However, the crypto market is still cautious because macro events are so close together.
Without strong volume confirmation, breakouts may quickly reverse.
As a result, most traders are holding off on making aggressive Solana price predictions for 2025 until technical and fundamental factors converge.
SEC Delays ETF Ruling, Increasing Solana’s Short-Term Uncertainty
The U.S. SEC has postponed its decision on the Bitwise Solana ETF and the 21Shares Core Solana ETF until October 16, 2025.
Because of this delay, traders will likely have to wait longer to find out if Solana will eventually be made available to more institutions.
If a spot SOL ETF is approved, Solana exposure can be added to traditional brokerage accounts, potentially opening up new liquidity sources.
But the delay creates ambiguity, which can stifle initial excitement.
Events about ETFs typically determine the market’s response, and the October ruling has emerged as one of the most significant catalysts.
Any technical breakout would benefit from a favorable result, but profit-taking would result in another stall or rejection.
In conclusion, Solana’s price view is bullish, and $360 is within reach if technical and regulatory factors align.
Momentum can be accelerated to critical Fibonacci levels with a breakout above $210.
However, traders face some short-term uncertainty due to the postponement of the ETF ruling.
However, the analyst’s goal is still attainable overall.