Solana Price Prediction: ETF Filing Revisions Requested – A Move to $500 Could Be Coming Soon

Solana (SOL) has gone up by 2.5% in the past week as the approval of the REX-Osprey Solana exchange-traded fund (ETF) – the first of its kind in the United States – buoyed investors and triggered a spike in the price of multiple meme coins in its ecosystem.

A leadership change within the ranks of the Securities and Exchange Commission (SEC) dramatically raised the odds this year that more altcoin-linked ETFs will finally get the green light from the agency, which favored a bullish Solana price prediction.

On Monday, the SEC reviewed and rejected an application from Fidelity Investments for a Solana ETF and asked for public commentary on certain characteristics of the vehicle’s design that prevent fraud and manipulation.

Despite this temporary setback, the agency has a deadline until October 10 to make a financial decision and ETF experts believe that they will say yes after the instrument’s prospectus is amended.

James Seyffart, Bloomberg’s top ETF analyst, gives all Solana ETFs a 95% chance of approval this year. He also believes that other similar vehicles for tokens like XRP (XRP), Litecoin (LTC), Cardano (ADA), and even Dogecoin (DOGE) will receive the green light in October.

Solana Price Prediction: SOL Eyes $190 After Descending Price Channel Breakout

Looking at the daily chart, Solana has broken its descending price channel but quickly rejected a move above its 200-day exponential moving average (EMA).

The price seems to have entered a brief stage of consolidation as the 9-day and 21-day EMAs show signs of compression after this bullish move.

Ideally, the price should rise above the $170 level to confirm a bullish outlook. If that happens, a plausible Solana price prediction would see the token rising to $190 in the near term ahead of the approval of these ETFs.

Once all of Solana ETFs are listed, the token could receive a liquidity boost as institutional money will flow to these instruments. Maybe SOL will not get to $500 this year but $300 seems quite feasible.

Although this altcoin offers some promising upside potential, the best crypto presales like SUBBD (SUBBD) could deliver much higher gains to early buyers who take advantage of its discounted price.

SUBBD (SUBBD) is building a new kind of platform for creators who are tired of being banned, restricted, or underpaid by big social media sites.

Using clever tools like chat assistants and exclusive fan perks, SUBBD makes it easier for creators to connect with their audience and earn income around the clock.

The $SUBBD token unlocks early access, special discounts, and even gives fans and creators a voice in shaping the platform’s future.

With over 2,000 creators already signed up — and a combined reach of 250 million followers — the token’s value could skyrocket when the platform goes live.

To reap the highest returns from this token, head to the SUBBD website to buy it at its discounted presale price.

Just connect your wallet (e.g. Best Wallet) and swap USDT or ETH or use a bank card to make your investment.

The post Solana Price Prediction: ETF Filing Revisions Requested – A Move to $500 Could Be Coming Soon appeared first on Cryptonews.