Solana Price Forecast: SOL steadies near $140 as new spot ETFs launch, boosts sentiment
- Solana price hovers around $140 on Wednesday, after rebounding from its key support level the previous day.
- Canary Capital and Fidelity announced the launch of their spot Solana ETFs SOLC and FSOL on Tuesday, boosting market sentiment.
- The technical outlook suggests further recovery if SOL holds above $128.68, the weekly support level.
Solana (SOL) price trades around $140 at the time of writing on Wednesday after rebounding from a key support level the previous day. Canary Capital and Fidelity announced the launch of their spot Solana Exchange Traded Funds (ETFs), SOLC and FSOL, on Tuesday, lifting market sentiment amid growing institutional interest. The technical outlook suggests further upside if SOL holds above the weekly support level at $128.68.
Institutional demand rises as multiple asset managers launch Solana ETFs
Canary Capital announced the launch of its spot Solana ETF, SOLC, on Tuesday, coinciding with Fidelity’s debut of the FSOL Solana ETF on the same day.
Fidelity becomes the fourth asset manager to roll out an SOL ETF and the first from the firm to feature staking. Moreover, Bitwise, which launched its product in late October, and Grayscale, whose fund also includes a staking component.
This succession of launches underscores accelerating institutional interest in Solana-based investment products, which projects a bullish outlook for Solana and its native token in the long term.
Solana Price Forecast: SOL momentum indicators hint at fading bearish strength
Solana price faced rejection at the daily level of $168.79 on November 11 and declined 22% over the next 6 days. On Tuesday, it recovered more than 7% after retesting the weekly support at $128.68. At the time of writing on Wednesday, it hovers around $139.71.
If the weekly support at $128.68 continues to hold, it could extend the recovery toward the next resistance at $160.
The Relative Strength Index (RSI) on the daily chart is 35, rebounding from the oversold territory, suggesting bearish momentum may be slowing and a potential short-term rebound could emerge.
On the other hand, if SOL closes below $128.68, it could extend the decline toward the next daily support at $118.10.
Related Articles
The Ultimate Test for the Market: What Nvidia's Earnings Mean for U.S. Stocks
TradingKey - Nvidia (NVDA), the leader in the AI chip market, is set to release its fiscal year 2026 Q3 earnings report after the close of US markets on Wednesday. As US investors engage in a frantic sell-off driven by interest rate expectations and the AI bubble, the Q3 report from "AI bellwether"
Target Q3 Earnings Preview: Growth Recovery Expectations Remain Low. Is It Time to Buy?
TradingKey - U.S. retail giant Target (TGT) is grappling with shifting consumer habits and trade policy changes as it prepares to release its third-quarter 2025 earnings before the market open on Wednesday, November 19. The company, which primarily sells discretionary items, is striving to return to
Nvidia Q3 Earnings Preview: Can Blackwell's Ramp-Up Break the Slowdown and Save the U.S. Stocks?
TradingKey - NVIDIA (NVDA) is set to report its Q3 FY2026 earnings after market close on Wednesday, November 19, positioning itself as a key market focus amid a broader U.S. stock market pullback fueled by AI bubble concerns and liquidity pressures. Analysts widely anticipate NVIDIA will deliver its
U.S. September Nonfarm Payrolls: Two-Scenario Analysis, Will U.S. Stocks Diverge in Short-Term and Medium-to-Long-Term Trends?
TradingKey - This paper conducts an analysis of the U.S. September nonfarm payroll data and the subsequent employment market through two scenario-based assessments, alongside a short-term and medium-to-long-term outlook for U.S. stocks.
Fed October Minutes Preview: Divided Economic Data Signals New Normal of Divergence
This article analyzes the impending release of the Federal Reserve's October meeting minutes, highlighting divisions on monetary policy, recent rate cuts, and the potential impact on upcoming decisions. With 56% chance of maintaining rates, investor focus remains sharp.
