Solana’s price surged past critical resistance levels nearing $160 following an ETF announcement, sparking a technical breakout and boosting market confidence. The rally saw SOL overcome barriers at $153.47 and $155.83 with substantial trading volume of 26.51 million SOL ($4.06 billion USDT), reflecting intense buying pressure.
Technical indicators confirm overbought conditions, with Solana’s RSI(6) hitting 84.72, RSI(12) at 76.67, and RSI(24) reaching 69.58. The price movement triggered nearly $9 million in short position liquidations, underscoring the strength of the bullish momentum.
The breakthrough follows increased optimism around spot Solana ETF prospects, with Bloomberg analysts elevating approval odds for Solana, XRP, and Litecoin ETFs to 95%. Broader altcoin ETF prospects also strengthened, with Dogecoin, Cardano, Polkadot, and Avalanche scheduled for Q4 reviews at 90% approval odds, while Sui and Tron face lower probabilities of 60% and 50% respectively.