SOL Price Prediction: Is $190 the Next Milestone?

#SOL

• SOL is trading below its 20-day MA, signaling short-term bearish pressure.
• Positive news, including ETF speculation and institutional adoption, could drive prices higher.
• Key support at $136; a hold above this level may trigger a rebound towards $150.

SOL Price Prediction

SOL Technical Analysis: Key Indicators to Watch

According to BTCC financial analyst Olivia, SOL is currently trading at 133.72 USDT, below its 20-day moving average (MA) of 150.5595, indicating a potential bearish trend in the short term. The MACD (12,26,9) shows a negative value of -2.3857, suggesting weakening momentum. However, the Bollinger Bands indicate that SOL is NEAR the lower band at 136.1992, which could act as a support level. Olivia notes that if SOL holds above this level, a rebound towards the middle band at 150.5595 is possible.

Market Sentiment: SOL Shows Resilience Amid Positive Developments

BTCC financial analyst Olivia highlights several bullish developments for SOL, including its selection as a lead blockchain for Wyoming’s WYST stablecoin pilot and growing institutional interest. The news of a potential spot solana ETF with a 90% approval chance has further boosted sentiment. Olivia points out that SOL’s price has bounced back strongly, with targets reaching $190, supported by positive news flow and strategic refocusing by key projects like Jupiter.

Factors Influencing SOL’s Price

Wyoming’s WYST Stablecoin Pilot Selects Aptos and Solana as Lead Blockchains

Wyoming’s Stable Token Commission has identified Aptos and Solana as the top-performing blockchain networks for its WYST stablecoin pilot following rigorous technical evaluations. Both platforms scored 32 points in assessments measuring transaction speed, fees, and finality, edging out competitors like Sei (30 points) and Ethereum.

The WYST project will leverage LayerZero’s interoperability protocol to enable cross-chain functionality from launch. While no tokens are currently available for sale, the commission anticipates a post-July rollout pending successful testing phases.

This initiative under the Wyoming Stable Token Act represents a strategic push to establish state-backed digital currency infrastructure, with Aptos emerging as the highest-rated network in the evaluation process.

Jupiter on Solana Halts DAO Voting Until 2026 to Refocus DeFi Strategy

Jupiter, a leading decentralized exchange on Solana, has suspended its DAO governance voting until 2026. The move aims to streamline operations and prioritize growth during a critical inflection point for decentralized finance.

Chief Operating Officer Kash Dhanda cited inefficiencies in the current governance model, including slow decision-making and community fragmentation. Despite the pause, staking rewards will remain unchanged for active participants.

The platform plans to redesign its governance framework with community input, seeking to create a more efficient system for future DeFi innovation. This strategic shift reflects the challenges of balancing decentralization with operational agility in fast-moving crypto markets.

MemeStrategy Becomes First HK-Listed Company to Invest in Solana

MemeStrategy Inc., Asia's first publicly listed digital asset firm, has taken a pioneering step by becoming the first Hong Kong-listed company to invest in the Solana ecosystem. The company acquired 2,440 SOL tokens on the open market, valued at approximately HKD 2.9 million.

The purchase was executed through OSL Group (863.HK), a licensed digital asset platform regulated by Hong Kong's Securities and Futures Commission. This transaction underscores growing institutional confidence in Solana's blockchain technology and its potential in the Asian market.

The move signals a broader trend of traditional finance entities embracing alternative blockchain networks beyond Bitcoin and Ethereum. Solana's high-speed, low-cost transactions appear to be attracting institutional interest as the digital asset ecosystem matures.

Solana Price Bounces Back Strong: Is $190 the Next Milestone?

Solana has emerged as a top performer in today's crypto market rally, buoyed by multiple catalysts. The launch of Solana's mobile Seeker device is driving interest in Web3 hardware, while Bybit CEO Ben Zhou announced Byreal, the first on-chain DEX built on Solana, set to launch by June's end.

Institutional interest is accelerating with Fidelity's spot Solana ETF filing to the SEC, followed by Invesco-Galaxy's similar move through Delaware Trust. Network activity underscores the momentum—Solana's engagements have doubled Ethereum's, reaching 45.77 million, reflecting surging developer and user adoption.

SOL trades at $157.18 after fluctuating between $144.36 and $157.13, with a market cap of $82.67 billion. Daily charts show a rebound from the lower Bollinger Band at ~$141.60, now above the 20-day SMA of $155.61, signaling bullish reversal potential.

Chances of Spot Solana ETF Approvals Surge to 90%

Institutional momentum behind Solana ETFs has reached a fever pitch, with Bloomberg analysts now assigning a 90% probability of regulatory approval by 2025. The SEC's unprecedented engagement—including amendment requests to seven applicants—signals a potential paradigm shift in crypto asset recognition.

Market makers on Polymarket are even more bullish, pricing in 92% approval odds after witnessing the blistering response time from issuers. This regulatory dance coincides with Washington's accelerating stablecoin legislation, creating tailwinds for altcoin institutionalization.

The staking component embedded in several proposals adds another layer of complexity—and opportunity. Solana's proof-of-history mechanism may prove more palatable to regulators than energy-intensive alternatives, though final determinations remain pending.

Solana to Launch First Kaito-like Mindshare Leaderboard

Solana is set to introduce its first mindshare leaderboard, modeled after Kaito's engagement-ranking system. The platform, developed by Wallchain, will measure user influence on crypto Twitter, rewarding top contributors with 'quacks'—an offchain points currency. High-ranking participants may later qualify for token allocations, though Wallchain remains noncommittal about future token plans.

The algorithm aims to curb spam by applying exponential decay to quack earnings for users flagged repeatedly. Early data highlights Solana co-founder Anatoly Yakovenko, Helius's Mert Mumtaz, and trader Ansem as top influencers over the past month.

While leaderboards like Kaito's have gained traction, critics argue that linking engagement metrics to token rewards risks incentivizing low-quality content over genuine ecosystem growth.

Solana Price Forecast: Consolidation Phase Amid Institutional Adoption Signals

Solana (SOL) trades at $163.26, down 5.51% amid broader market cooling, with weekly losses extending to 12.64%. The asset shows tightening Bollinger Bands (10.38% width) and declining momentum (-5.62%), suggesting a consolidation phase between key levels of $160 support and $176 resistance.

Technical indicators flash caution. The MACD's bearish crossover (4.76 below 6.43) contrasts with an RSI nearing oversold territory at 46.33. Traders await confirmation of either a breakout above $168 for potential $176 retest or breakdown below $162 targeting $158.

Institutional interest emerges as a counterbalance to short-term volatility. Solana's strategic MoU with AIX, Interbix, and Jupiter signals blockchain adoption in capital markets, potentially anchoring longer-term valuation support.

Is SOL a good investment?

According to BTCC financial analyst Olivia, SOL presents a mixed but promising investment opportunity. Below is a summary of key factors:

Olivia advises monitoring the $136 support level closely for entry points.