Solana price is holding key support near $200 as ETF anticipation builds, with participants watching closely for signs of the next breakout move.

Solana price is drawing big attention as ETF speculation heats up, with participants eyeing October as a make-or-break month. Despite short-term pressure around the $200 zone, dip buyers continue to step in, showing strong conviction.

ETF Momentum Builds Case for SOL Upside

October could prove pivotal for Solana. With ETF deadlines lined up for mid-month, anticipation of regulatory approval is building. Famous crypto analyst Merlijn The Trader notes that ETFs for Solana, XRP, LTC, and DOGE are set for decisions, and the outcome could set the stage for a historic moment in altcoin markets.

Solana’s ETF anticipation builds momentum, positioning the token for a potential breakout as mid-October deadlines approach. Source: Merlijn The Trader via X

For SOL, this narrative comes at a time when investor interest is already strong. A green light would not only validate Solana as an institutional-grade asset but also strengthen its position in the broader market, potentially igniting a fresh rally.

Solana Price Prediction Targeting $500 as Cycle Targets

On the charts, Solana price has been consolidating after its recent pullback. Price action shows clear reactions at Fibonacci retracement levels, with $200 to $205 acting as a important demand zone. A breakout above $220 would likely confirm strength and pave the way for another run at $250 to $265 levels.

Solana’s chart forms a bullish cup-and-handle, with $200 support holding firm as participants eye a potential breakout towards $480–$500. Source: Trader Wizz via X

Trader Wizz emphasized that the current structure resembles a bullish cup and handle, and a breakout above the neckline fueled strong upward legs. If momentum builds, a move towards $480 to $500 would be on cards for this cycle.

Reclaiming Highs as Sellers Exit Positions

Bottom sellers may be regretting their exits as Solana continues to attract dip buyers. The daily chart shows higher lows aligning with trendline support, and every rejection so far has been met with immediate demand on the support levels. gem_detecter argues this could create the foundation for a new all-time high before year-end.

Solana continues to attract strong dip-buying interest, with $190–$200 acting as a solid base while targets near $250–$260 come back into focus. Source: gem_detecter via X

The current price action shows that SOL Solana price retracements into key Fibonacci zones have consistently been bought up. This rhythm suggests that $190 to $200 remains a major supportive area for Solana price while, while targets around $250 to $260 could be back in play if buyers reclaim full control.

Short-Term Solana Price Analysis

Short-term signals point toward continued volatility. Solana’s lower timeframes highlight repeated liquidity sweeps below support zones, followed by quick recoveries. This behavior often indicates strong accumulation underneath the surface.

Solana defends $203–$206 support levels on the 1-hourly chart. Source: Crypto Chiefs via X

Crypto Chiefs noted that the hourly structure is holding the recently reclaimed support level of $206 to $203 levels, which, if confirmed, could see the price recover back above $215.

Short-Term Caution Still in Play

While broader trends remain supportive, some caution is warranted in the immediate term. Analyst TED pointed out that repeated stalls near $210 to $215 suggest that sellers have not fully exited. This could mean that any breakout attempt will face resistance before momentum decisively shifts. Participants are urged to watch these levels closely before committing to aggressive positions.

Solana price faces near-term resistance at $210–$215, with sellers still active and caution advised before any breakout attempt. Source: TED via X

Final Thoughts

Solana’s current setup reflects a balance between short-term caution and long-term optimism. ETF deadlines in October could become a major catalyst, giving SOL the institutional push needed for another breakout.

Technical charts show clear support around $200 and resistance near $220 to $240. Whether bulls can reclaim these zones will determine if a fresh rally towards $256 to $300 is possible in Q4.

With ETF momentum, strong on-chain demand, and growing trader interest, all eyes are on whether Solana Price Prediction can hold the line and set the stage for a new leg higher.