SOL surpasses $200 for the first time since early June, backed by a spike in…

Solana Eyes $200 Again Amid ETF Push and Bullish Signals
- SOL forms golden cross, signaling strong technical bullish momentum shift.
- 21Shares files amended Spot Solana ETF application with SEC.
- Rejection candle shows strong demand near key $170 support level.
Solana (SOL) is showing early signs of a bullish shift in momentum. A golden cross pattern has formed on the daily chart, often seen as a strong reversal signal. Meanwhile, institutional interest is rising as 21Shares updates its Spot Solana ETF filing with the SEC.
Golden Cross Formation Signals Uptrend Continuation
Meanwhile, Solana’s 50-day moving average has crossed above the 200-day moving average. This technical setup, commonly known as a golden cross, often precedes bullish trends. The crossover is clearly marked on the SOL/USDT chart from Binance, where the price briefly surged past $200 before correcting.
Despite the pullback to the $180 range, the price remains above both key moving averages. This structure maintains the bullish bias, suggesting renewed upward pressure. Traders are closely watching the $182 level, which acted as intraday resistance.
At press time, SOL is trading at $181.16, slightly up by 0.02% on the day. The price also showed a strong recovery from a low of $172, rebounding sharply and forming a long-tail rejection candle. This candle pattern typically reflects active buyer interest near support levels.Â
ETF Filing Renews Market Optimism
On the regulatory front, 21Shares has filed an amended S-1 application for a Spot Solana ETF with the U.S. SEC. This filing, supported by Invesco Galaxy, marks a renewed push to gain approval. Solid Intel first reported the development, which has sparked optimism across the crypto sector.
The ETF news coincided with a dip in SOL’s price to an intraday low of $170.29. However, the market quickly reacted with strong buying interest, driving the price back above $180. The rebound supports the view that institutional demand may be influencing current price levels.
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