Solana Price Analysis This Week: Can SOL Hit $200 In The Short-Term?

The primary question surrounding Solana’s price analysis this week is whether it can reach $200 in the short term. SOL is currently trading at around $152.50 and is up a modest 1.5% in the past 24 hours.

SOL currently faces heavy resistance at $164 and will need to push through this level to entertain any ideas of a run toward $200 in July.

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4-Hour Close Key For Solana Price Analysis This Week: Above $153 And All Bets Are Off

Despite the resistance ahead for the SOL price, it is exhibiting a decisive breakout from a symmetrical triangle; however, it first needs to close above $153 on the 4-hour timeframe to maintain its uptrend.

From there, the $164 resistance will come into play, which could prove a significant barrier. Still, with Bitcoin hovering just below all-time high levels and looking ready for a breakout at any moment, Solana could follow suit.

The current trendline for SOL has been respected since the beginning of July, resulting in tight compression that appears poised to lead to an explosive breakout.

On a higher timeframe, the 1-day chart shows a cup and handle pattern forming, which aligns nicely with the low-timeframe outlook, both signalling a move to the upside in the following days.

Solana price analysis this week is relying on a move from Bitcoin, as it continues to hover just below $109,000 and looks ready to break out above $110,000. A move of this magnitude from the leading digital asset would likely give altcoins, such as SOL, the fuel they need to gain momentum.

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Catalysts That Could Send SOL Parabolic: Incoming Spot ETFs Would Do The Trick

https://twitter.com/crypto_goos/status/1942875875671998817?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank

Solana looks to be the favourite as the next altcoin to receive full SEC approval for a spot ETF. Rex-Osprey launched the first Solana Staking ETF earlier this month, and to date, it has been a great success, attracting over $41 million in inflows during its first four days of trading.

This significant amount of institutional capital flowing into SOL via just one ETF product underscores the substantial appetite for spot SOL investment from regulated institutional offerings.

As of now, there are over 10 SPOT SOL ETF applications with the SEC from the likes of BlackRock, Fidelity, Bitwise, and 21Shares, among others.

They are the favourites to be granted full approval before any other altcoin, with prediction market platform Polymarket having a 99% chance of a US-based spot Solana ETF being approved in 2025.

On the topic of ETFs, US President Trump has officially filed for a ‘Crypto Blue Chip’ ETF via his Truth Social platform, with SOL listed as having an 8% allocation within the basket of assets that also include BTC, ETH, XRP and CRO.

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Pump.fun Token Launch Next Week Looks Set To Bring Liquidity And Attention Back To Solana

https://twitter.com/Crypto_Dep/status/1942895410114076879?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank

Another underrated event within the Solana ecosystem that could provide fuel for a potential SOL run is the public token sale for Pump.fun’s $PUMP token.

The token sale starts on July 12 and the Pump.fun team plans to raise $600 million via its public offering. As of right now, it has been reported that investors across Europe will be banned from participating in the PUMP token sale, which is slated to last 72 hours.

Next week will likely mark the token generation event for PUMP, at which point it will be tradable across the largest centralized exchanges, as well as Solana DEXs, such as Pump.swap, Raydium, and Meteora.

The PUMP token is anticipated to be the largest and most hyped launch of the year, likely bringing an unprecedented amount of liquidity and volume to the Solana ecosystem.

With Solana on-chain trading mostly transacted in SOL pairs, hundreds of millions of dollars worth of Solana will exchange hands once PUMP goes live, which could serve as a catalyst for the Solana price analysis this week and next, following through on its $200 price prediction.

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