Solana (SOL) continues to hold strong momentum above the $190 mark, showing resilience after a volatile month for the broader crypto market. According to CoinMarketCap data, Solana currently trades at $192.57, giving it a market capitalization of $105.81 billion. Despite a 32.8% decline in 24-hour trading volume, the network’s fundamentals remain solid, driven by rising institutional interest and continued ecosystem growth.
Neutral-to-Bullish Technical Setup
Market signals for Solana remain mixed but lean slightly bullish. As of the latest update from Changelly, overall sentiment is still bearish at 62%, reflecting lingering caution among traders. However, technical charts show that the 200-day moving average continues to slope upward, a sign of a strengthening long-term trend. Short-term resistance from moving averages suggests a phase of consolidation, but the structure indicates underlying accumulation rather than capitulation.
Trading activity remains healthy, and Solana has managed to hold its support above the $185–$190 zone, suggesting that buyers are stepping in at key levels ahead of potential catalysts in November.
CoinCodex Predicts $223 by Year-End
According to CoinCodex’s long-term Solana forecast, the asset could climb to around $223 by December 2025, representing a potential 15.86% upside from current levels.
The platform projects a gradual increase through Q4, with average prices of $197.74 in October, $213.09 in November, and $220.90 in December.
If these projections hold, Solana would close 2025 near its multi-year highs, driven by institutional adoption, improved network scalability, and growing staking demand. While short-term volatility is likely to persist, analysts maintain that Solana’s long-term outlook remains one of the strongest among top-tier Layer-1 projects.
Key Drivers: ETFs, Network Upgrades, and Institutional Expansion
Several catalysts are driving renewed confidence in Solana’s trajectory. The launch of the first-ever staked crypto ETF centered around Solana has drawn institutional interest, creating new demand for yield-generating exposure. In parallel, Fidelity recently added Solana to its list of supported crypto assets, further legitimizing the token’s position within traditional finance portfolios.
On the technological front, Solana’s Alpenglow upgrade, focused on improving block finality and overall transaction speed, continues to enhance performance for gaming, trading, and decentralized applications. These optimizations reinforce Solana’s competitiveness as one of the fastest blockchains in the market.
Regulatory developments also play a key role. The SEC’s ongoing consideration of additional Solana-based ETF applications could bring another wave of credibility and liquidity to the ecosystem if approved.
