SOL May Test $245–$250 on ETF Hopes & Alpenglow
Solana (SOL) is consolidating above $222 and could revisit resistance in the $245–$250 zone as on‑chain activity, ecosystem growth and looming institutional catalysts strengthen the outlook. Short‑term price action shows SOL holding key support but facing a nearby overhead band that will test buyer resolve in the coming sessions.
SOL peaked near $249.60 before entering a consolidation range roughly between $230 and $250. Immediate resistance sits at $245–$250; support is concentrated around $235, with failure below that level likely to trigger deeper consolidation. To retest the upper resistance band, buyers need to sustain momentum above $235. Analysts have flagged recent September rallies of 10.24% and 13.93% as momentum drivers that pushed SOL into the upper $240s.
- Resistance: $245–$250
- Immediate support: $235
- Consolidation band: $230–$250
The Solana ecosystem shows substantial activity underpinning accumulation: roughly 1.89 million daily active addresses, $12.03 billion in total value locked (TVL), and about $12.88 billion in stablecoins circulating in the network. These metrics reflect growing DeFi usage, trading activity and liquidity availability across DEXs, lending markets and staking services.
Two catalysts are drawing attention from traders and institutions. The Alpenglow upgrade is expected to improve protocol resilience and could boost developer and user confidence. At the same time, pending ETF filings from issuers including Bitwise, Canary and 21Shares are keeping hopes alive for increased institutional flows into SOL. Together, technical upgrades and potential ETF‑related demand form the primary bullish case for a move toward $245–$250.
Technical indicators point to accumulation. MACD divergence and an RSI that has approached oversold levels suggest buyers are defending key ranges. Market structure has been constructive, producing higher lows over time with notable supports at $120, $150, $180 and $200 noted by market observers. That layered support profile gives the market room to absorb selling while waiting for fresh upside triggers.
- Bull case: Sustained trade above $235, supported by improved on‑chain flows or positive ETF news, opens a clear path to test $245–$250.
- Bear case: A break below $235 would likely extend consolidation and force a retest of lower structural supports.
- Traders should watch volume, ETF filing progress and post‑upgrade network metrics for confirmation of the next leg.
Overall, Solana’s near‑term trajectory will hinge on whether buyers can convert ecosystem momentum and institutional interest into sustained price momentum above the $235 pivot.
