Solana Price Increase Sparks $185 SOL Rally, Experts Weigh In

Solana (SOL) Eyes $185 as Momentum Builds: What's Behind the Recent Price Surge?

New York, June 11, 2025 — The cryptocurrency market is abuzz today with renewed excitement surrounding Solana (SOL), as the token posts a strong price increase that has traders and analysts eyeing a potential move toward the $185 mark. As of the latest market update, SOL is trading at $164.51, representing a 4.07% increase over the past 24 hours. This rise in price comes on the back of several key developments: growing speculation around a spot exchange-traded fund (ETF), significant whale activity, and strong technical indicators supporting a bullish trend.

Source: X

SOL Gains Momentum Amid Growing Market Interest

Over the past 24 hours, Solana has seen a substantial increase not only in price but also in trading volume. The 24-hour trading volume has surged to $5.7 billion, marking a 54.97% jump compared to the previous day. This uptick suggests heightened investor interest, increased activity on centralized exchanges, and broader confidence in Solana’s market potential.

Such a rise in volume is often viewed as a confirmation of price strength, particularly when paired with upward momentum. In Solana’s case, the volume supports the current bullish trend and may indicate further price movement in the short term.

Whale Activity Sparks Investor Buzz

One of the driving forces behind today’s price surge appears to be strategic movement by large-scale holders, often referred to as "whales." According to on-chain analytics platform Lookonchain, a significant Solana whale, identified by wallet address 9a56eN, recently unstaked 1.33 million SOL tokens — equivalent to approximately $221 million. Notably, just two hours after the unstaking activity, 380,000 SOL tokens (worth around $63.3 million) were transferred to major cryptocurrency exchanges including Binance, Coinbase, OKX, and Bybit via institutional trading platform FalconX.

Source: X

Such movements often signal anticipation of either profit-taking or further engagement with the market. However, what’s notable in this instance is that the large transfer did not lead to a notable price dip, underscoring the strength of current market demand and suggesting that buyers quickly absorbed the supply.

ETF Optimism: A Game-Changer for Solana?

Perhaps the most influential factor driving Solana’s rally is the growing optimism surrounding a potential spot ETF approval. Eric Balchunas, a senior ETF analyst at Bloomberg, recently revised the likelihood of a Solana spot ETF being approved by U.S. regulators from 70% to a compelling 90%.

Balchunas explained that the U.S. Securities and Exchange Commission (SEC) is increasingly viewing Solana as a commodity rather than a security — a classification shift that dramatically improves the odds for regulatory approval. If confirmed, a Solana ETF would likely draw institutional capital into the ecosystem, similar to what has been observed in the Bitcoin and Ethereum markets following ETF approvals.

This ETF-related optimism is creating significant tailwinds for SOL, as traders and institutional investors position themselves ahead of what could be a landmark regulatory development.

Technical Analysis: Bullish Structure Strengthens

From a technical perspective, Solana’s price chart paints a promising picture. Key indicators are aligning to support the bullish narrative:

• Relative Strength Index (RSI) is currently at 54.85, suggesting the asset is gaining buying interest without being overbought. This middle-ground RSI reading allows for more upside potential.

• Moving Average Convergence Divergence (MACD) has just completed a bullish crossover. The histogram has turned green, signaling positive momentum and increasing likelihood of continued upward movement.

• Trend Structure: SOL has successfully broken out of a multi-day consolidation zone near the $150 mark and is now forming higher highs and higher lows — a classic pattern of a sustained uptrend.

• Volume Confirmation: The 54.97% increase in 24-hour trading volume lends further credibility to the breakout, indicating genuine market interest rather than a false rally.

These technical factors combined suggest that Solana is well-positioned for continued growth, particularly if the broader market remains stable.

Solana Price Forecast: What Comes Next?

Bullish Scenario:
If momentum continues, analysts are watching two key resistance levels in the short term:

• $172, which represents immediate resistance based on previous price action.

• $185, the high point recorded in April and a psychologically significant level for traders.

Surpassing these levels could open the door for a move toward $200, particularly if the ETF news is confirmed in the near term.

Source: TradingView 

Bearish Scenario:
Despite the bullish outlook, a failure to maintain support above $160–$162 could trigger a short-term retracement.

• Immediate Support: $160 to $162 zone.

• Deeper Support Levels: $150 and then $145, should the price fall further.

However, even in the event of a short-term pullback, the broader technical structure remains positive, and many market watchers view such dips as potential buying opportunities.

Why Solana Is Surging: A Summary

The current rally in Solana can be attributed to a confluence of critical factors:

• Whale Confidence: Major stakeholders are actively moving large amounts of SOL, signaling engagement and liquidity without destabilizing the price.

• ETF Momentum: A potential spot ETF approval, with the probability now estimated at 90%, is generating major institutional and retail interest.

• Technical Support: Bullish signals from RSI, MACD, and trend analysis are all reinforcing the positive sentiment.

• Volume Surge: A near 55% increase in trading activity underlines heightened market participation and growing conviction in SOL’s price trajectory.

Together, these elements create a strong foundation for Solana's continued rise. While volatility remains a feature of all crypto assets, today’s data suggests the road ahead for SOL could lead to a test of the $185 level — and possibly higher.

Conclusion

Solana is once again in the spotlight as it gains strength both technically and fundamentally. With solid support from whale activity, promising ETF developments, and encouraging chart patterns, all eyes are now on SOL’s ability to test key resistance levels. Whether it reaches the $185 milestone in the short term may depend on upcoming news and broader market conditions, but for now, momentum appears firmly in the bulls' favor.

Investors and traders alike will be watching closely in the coming days, as Solana continues to carve its path in the ever-evolving crypto market landscape.

Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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