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Solana price steadies above $190 amid institutional momentum
Solana (SOL) held firm above the $190 mark on Friday as a string of institutional actions and regulatory approvals renewed interest in the blockchain. The recent developments — from asset managers listing SOL to a spot Solana ETF cleared in Hong Kong — helped push adoption narratives, even as technical indicators remain cautious.
Fidelity expands crypto offering to include SOL
Fidelity Investments added SOL trading to its U.S. product suite, opening access to both retail and institutional clients. The asset manager’s decision to support Solana alongside its existing Bitcoin, Ethereum and Litecoin listings is being read as a notable endorsement for SOL’s market relevance and institutional demand.
Major Solana-focused firm announces M&A and validator plans
Shares of Solmate Infrastructure surged after the company unveiled an aggressive acquisition strategy aimed at consolidating projects within the Solana ecosystem. The firm also disclosed it had chosen a data center for its validator operations in the United Arab Emirates, signaling continued investment in Solana network infrastructure and staking capacity.
ETF approval in Hong Kong signals wider regulatory acceptance
On October 22, Hong Kong approved the first spot Solana ETF, managed by ChinaAMC. This launch follows spot Bitcoin and Ethereum ETFs and represents another milestone for spot-SOL products. The new ETF is scheduled to begin trading next week and will track SOL price performance for institutional and retail investors in the region.
Price action and technical outlook
Despite these bullish institutional cues, SOL’s technical setup shows resistance. The token remains below the 200-day Exponential Moving Average (200 EMA) after multiple failed attempts to reclaim that level, keeping short-term momentum tilted toward the downside. Traders should watch trading volume, 200 EMA, and support around the $180–$190 band for clues about the next directional move.
What this means for investors
Institutional listings and ETF approvals strengthen Solana’s credibility among large investors and could improve liquidity and market depth. Still, investors should weigh macro trends, on-chain fundamentals, and technical signals before increasing exposure. For those tracking spot SOL ETF flows, Hong Kong’s approval and Fidelity’s listing are key catalysts to monitor.
Source: crypto
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