Solana’s Final Accumulation Phase Signals Potential $500 Breakout

Technical analysis indicates Solana (SOL) is completing its Wyckoff accumulation pattern, with current price movements suggesting a final shakeout before a significant upward trajectory. Trading at $202 with recent 3% daily gains despite a 15% weekly decline, analysts interpret this consolidation as the precursor to a Q4 rally targeting $500. The transition from Phase D to Phase E in the Wyckoff chart historically correlates with substantial bullish movements, positioning SOL for what could be its last major dip before exponential growth. Market observers are closely monitoring this technical formation, which aligns with broader cryptocurrency sector strength and could establish new all-time highs for the Ethereum competitor.

SOL’s Last Dip? Analyst Sees $500 Target This Cycle

Solana (SOL) shows signs of a potential breakout as it transitions into the final phase of Wyckoff accumulation, according to technical analysis. Trading at $202 with a 3% daily gain, the token remains 15% down over the past week. Analysts interpret this dip as a final shakeout before a Q4 rally, with a cycle target of $500.

The Wyckoff chart suggests SOL is moving from Phase D to Phase E—a pattern historically associated with upward breakouts. Critical support lies at $177-$180; a hold could propel prices toward $240-$250, while failure may test $150. Institutional interest grows with ETF filings, though markets price only a 34% probability of new highs.

Nate Geraci Predicts Spot Solana ETF Approvals Within Two Weeks

Asset managers including Franklin, Fidelity, and Grayscale are racing to launch Spot Solana ETFs, with approvals potentially imminent. The filings signal growing institutional confidence in SOL as a core crypto asset beyond Bitcoin and Ethereum.

This development mirrors the trajectory of bitcoin ETF adoption, suggesting Solana is emerging as the next institutional-grade blockchain. Market makers anticipate significant capital inflows if regulators greenlight these products.

Solana's Open Interest Hits Record High as Remittix Presale Raises $26.7M

Solana's derivatives market is flashing signals of heightened trader activity, with open interest surging to a record 72 million SOL. The metric, often a precursor to volatility, comes as SOL prices test critical support at $185. Resistance looms NEAR $202 and $210, with analysts eyeing the 50% retracement level from Solana's recent rally as a key inflection point.

Meanwhile, Remittix is carving its own narrative in the PayFi sector. The project has raised $26.7 million in a presale that outpaced typical funding timelines, demonstrating robust investor appetite despite Solana's price uncertainty. Where SOL grapples with derivative positioning, Remittix showcases capital traction and product development momentum.

Solana Price Prediction: Key Levels to Watch as SOL Fights to Reclaim Momentum

Solana (SOL) is trading at $201.32, up 3.44% in the past 24 hours, with a daily volume nearing $8.8 billion. The sixth-largest cryptocurrency by market cap at $109.4 billion, SOL is drawing attention as institutional interest grows.

Market watchers anticipate a mid-October decision from the U.S. SEC on multiple Solana staking ETF applications. Franklin Templeton, Fidelity, and Grayscale are among firms filing updated S-1 forms. ETF analyst Nate Geraci notes these filings include staking provisions—a positive signal for ethereum ETFs.

Pantera Capital calls solana 'next in line for its institutional moment,' with $60 million flowing into Europe's Bitwise Solana staking ETP this week. The REX-Osprey Solana Staking ETF debuted with $12 million inflows and $33 million volume.

Bitwise Advances Solana ETF Efforts With Key SEC Filing

Bitwise has taken a significant step toward launching a Solana ETF by submitting its FORM 8-A to the SEC. The filing, disclosed by CEO Hunter Horsley on September 26, clears a procedural hurdle for eventual trading approval. Market Optimism grows as multiple issuers, including Grayscale and Franklin Templeton, file amendments—a sign of active engagement with regulators.

Analysts suggest the SEC could approve spot Solana ETFs within weeks. "These amendments accelerate the review process," said Nate Geraci of ETF advisory firm Nova Dius Wealth. Bloomberg's James Seyffart noted the coordinated activity signals productive issuer-SEC dialogue. Institutional demand is already evident: The REX-Osprey Solana Staking ETF attracted $300 million since its June launch.

World Liberty Financial Executes $6.04M Buyback and Burns 7.89M $WLFI Tokens

World Liberty Financial has intensified its deflationary strategy with a $6.04 million buyback of its native $WLFI token, followed by the deliberate burning of 7.89 million tokens. The move, tracked by Lookonchain, spanned Ethereum, Binance Smart Chain, and Solana networks—signaling a multi-chain approach to value accretion.

The platform accumulated 4.91 million $WLFI ($1.01 million) alongside $1.06 million in fee revenue before deploying capital for repurchases. By incinerating nearly double the repurchased amount, the project demonstrates aggressive supply contraction tactics reminiscent of Bitcoin's halving mechanics.