Key takeaways:
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Spot Solana ETF approval odds jump to 99.7% on Polymarket.
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A SOL price bull flag is in play on the daily chart, targeting $300.
Solana’s (SOL) price printed a bull flag pattern on the daily chart, a technical chart formation associated with strong bullish momentum following an upward breakout.
Could this technical setup, coupled with the likely approval of a spot Solana ETF in 2025, signal the start of a rally to new all-time highs?
SOL price bull flag targets $300
SOL price technicals show it could gain momentum if it breaks out of a bull flag pattern on the daily candle chart.
A bull flag pattern is a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.
Bull flags typically resolve after the price breaks above the upper trendline and rises by as much as the previous uptrend’s height. This puts the upper target for SOL price at $303, or a 100% increase from current prices.
The daily RSI is moving above the midline, rising to 53 on Wednesday from near-oversold conditions at 31 on June 22, indicating increasing bullish momentum.
Related: SOL futures funding rate turns negative: Is $180 the next stop?
To ensure a sustained recovery, the SOL/USD pair must first overcome the resistance between $155 and $165, which are also the 50-day and 200-day simple moving averages.
Several analysts argue that SOL’s growth to $300 is inevitable, citing increasing network flows, rising spot Solana ETF approval odds, and bullish onchain metrics.
“Solana’s inevitability continues to grow as fund inflows from other chains are growing every week and month,” said crypto analyst CryptoBits in a July 9 post on X, adding:
“My targets are sitting at $200, $300 and then uncharted territory at $500.”
A recent X analysis by popular market analyst Alek Carter suggests that strong fundamentals and SOL snapping its multimonth downtrend put it on a path to $300.
$SOL looking best chart i have ever seen.
SOL hitting hard fundamentally too and this is just broke the downtrend and the reason is immense utility.
And every action is pointing us towards only one thing.
SOL pump is coming and targets is 280$-300$.
What’s your plans buying… pic.twitter.com/VyZUqZJeb4
— Alek (@Alek_Carter) June 30, 2025
Solana ETF approval odds jump to 99.7%
The likelihood of the US Securities and Exchange Commission approving a spot Solana exchange-traded fund (ETF) in 2025 jumped to 99.7% on July 2, according to Polymarket data.
The odds currently stand at 99% at the time of writing on Wednesday, signaling investor confidence in Solana’s future in traditional financial markets.
Multiple spot Solana ETF applications from asset management giants like VanEck, Grayscale, 21Shares, Bitwise and Canary Capital signal robust demand for regulated SOL investment vehicles.
Bloomberg senior ETF analyst James Seyffart said he expects a “wave of new ETFs in the second half of 2025,” placing the Solana ETF approval odds at 95%.
Here are mine and @EricBalchunas‘ most recent odds on spot crypto ETF approvals by the end of 2025. We expect a wave of new ETFs in this second half of 2025. pic.twitter.com/H3pxJhqMy3
— James Seyffart (@JSeyff) June 30, 2025
Although the SEC delayed its decision on Fidelity Investments’ spot Solana application, Seyffart said that the delay was expected and that “interactions between the SEC and issuers should be viewed positively.”
Approval of spot Solana ETFs could unlock institutional capital, amplifying demand for SOL and potentially driving prices higher, with some analysts predicting targets as high as $1,300.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
