Solana (SOL) Holds Strong at Key Support, Eyes Major Upside Move
Solana (SOL) has demonstrated notable resilience in its price action, consolidating above the critical $190 support level and signaling potential for further gains. The cryptocurrency found strong buying interest near $185 before successfully breaking through key resistance levels at $192 and $200. Although a bullish trend line break at $202 introduced some temporary selling pressure, active demand near $188—coinciding with the 61.8% Fibonacci retracement—suggests sustained investor confidence. As of August 2025, traders are closely monitoring SOL's price movements, anticipating the next major upward surge. This consolidation phase could pave the way for a significant rally if bullish momentum continues to build.
Solana (SOL) Defends Critical Support Zone, Preparing for Next Major Increase
Solana's price action shows resilience as it consolidates above $190, signaling potential for further gains. The cryptocurrency found strong support NEAR $185 before climbing past key resistance levels, including $192 and $200. A bullish trend line break at $202 suggests temporary pressure, but active buying near $188—aligning with the 61.8% Fibonacci retracement—indicates sustained demand.
Traders are now watching the $198 resistance level closely. A decisive breakout could pave the way for a retest of the recent $210 high. The 100-hour moving average provides additional technical support, reinforcing Solana's position within its current upward trajectory. Market sentiment mirrors Bitcoin and Ethereum's recovery, underscoring broader crypto market dynamics.
SEC Delays Solana ETF Decisions, Sets October 16 Deadline
The U.S. Securities and Exchange Commission has pushed back its decision on several solana ETF applications, invoking the maximum 60-day review period. Asset managers including Bitwise, 21Shares, Canary Capital, and Marinade Finance now face a critical October 16 deadline for their proposed products.
This regulatory hesitation mirrors the SEC's cautious approach previously seen with Bitcoin and ethereum ETFs. The agency cited need for additional time to evaluate rule changes regarding Commodity-Based Trust Shares under BZX Rule 14.11(e)(4), which governs commodity-backed exchange-traded products.
VanEck's June 2024 filing marked the first Solana ETF application, with 21Shares following shortly after. The repeated extensions since January 2025 filings suggest regulators remain wary of cryptocurrency investment vehicles despite growing institutional interest.
Solana’s Rally Above $200 Reflects Genuine Adoption, Not Just Speculation
Solana (SOL) has surged over 20% this month, briefly reclaiming the $200 level amid broad crypto market optimism. Analysts argue this rebound is rooted in fundamental growth, not mere speculation.
On-chain activity tells the story: daily active wallets approach 3 million, blockchain throughput has tripled since July, and DeFi TVL hit 2022 highs. The network’s expanding utility—from NFTs to Visa’s USDC pilot—lends credibility to its momentum.
Technicals suggest room for upside. The $219-$222 range presents minimal resistance, with a decisive breakout potentially fueling a move toward $250. Altcoin rotation gains steam as Bitcoin dominance wanes, while neutral funding rates indicate healthy market positioning.
Macro tailwinds align. A softening dollar and anticipated Fed rate cuts in September create fertile ground for risk assets. Solana’s resurgence mirrors crypto’s broader narrative shift—from speculative asset to infrastructure player.
DeFi Development Corp Expands Solana Holdings with $22M Purchase, Stakes Entire Treasury
DeFi Development Corp (Nasdaq: DFDV) has aggressively increased its Solana exposure, acquiring 110,000 SOL tokens worth $22 million at an average price of $201.68. The purchase brings the company's total SOL holdings to 1,420,173 tokens, valued at approximately $273 million.
The MOVE signals strong institutional confidence in Solana's ecosystem, with all newly acquired tokens immediately staked to earn yield while securing the network. SOL Per Share (SPS) - the firm's key performance metric - surged 48% over the past month to 0.0675, equivalent to $13.02 per share.
As the first publicly traded company to build its treasury strategy entirely around Solana, DeFi Development Corp has been systematically accumulating SOL throughout 2025. The firm crossed the symbolic 1 million SOL threshold in July, demonstrating its conviction in Solana's long-term value proposition.
