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Solana steadies above $205 as ETF optimism and treasury buys lift SOL
Solana (SOL) has recovered from last week’s pullback, trading slightly above $205 after a near-term slide pushed prices under $190. With growing momentum around spot and staking ETFs, combined with sizable corporate treasury purchases, investor sentiment is showing early signs of improvement across the crypto market.
Market snapshot
Solana is up roughly 6.6% over the past 24 hours and is quoted at about $205.36 at press time. Though this remains under recent highs near $250, the bounce suggests renewed bullish interest in SOL across retail and institutional channels. Volume remains subdued, but on-chain and institutional flows point to a firmer foundation for price recovery.
ETF developments driving sentiment
Asset managers continue to refine Solana ETF proposals as the SEC decision window approaches. VanEck updated its Solana Staking ETF filing proposing a 0.30% fee, adding to expectations that approval — or at least clearer regulatory guidance — could be forthcoming. Other applicants under review include Bitwise, Fidelity, Franklin Templeton, CoinShares, Grayscale and additional VanEck filings. The prospect of a spot or staking Solana ETF has been a primary catalyst behind recent inflows and renewed speculative demand for SOL.
Corporate treasury accumulation supports price
Institutional appetite for SOL is rising. Solmate’s recent $50 million direct purchase is the latest large-scale corporate treasury buy, following earlier acquisitions by other entities. Combined, digital asset treasury firms (DATs) now hold about 20.12 million SOL — roughly 3.5% of the total supply. Forward Industries leads with approximately 6.822 million SOL, followed by Solana Company at ~2.2 million SOL. Other corporate holders such as Sharps Technology, DeFi Development Corp., and Upexi each own north of 2 million SOL, while many smaller firms add to overall adoption.
This accumulation by treasuries and long-term holders could reduce available supply on exchanges and act as a stabilizing force if macro conditions remain favorable.
Technical outlook and indicators
On-chain and technical indicators appear constructive but not yet decisively bullish. Solana’s Relative Strength Index (RSI) is around 46.82 — near neutral but improving — while the Chaikin Money Flow (CMF) reads a healthy +0.23, showing net capital inflows despite thin trading volumes.
Key resistance and confirmation levels
For a confirmed trend reversal, SOL needs to close and hold above $210, with a reclaim of the $220–$225 zone signaling broader upside potential. Until those levels are convincingly breached, the current move could remain a short-term relief rally rather than the start of a sustained bull run.
Traders should watch ETF news, corporate treasury disclosures, and on-chain flow metrics for clearer signals. If ETF approvals or further large-scale treasury purchases occur, SOL could gain renewed momentum in the weeks ahead.
Solana price chart
Source: crypto
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