Solana (SOL) Price Prediction: Will SOL ETF Approval Catalyze a 5x to 10x Surge?

Solana is on the verge of a significant breakout, with analysts suggesting that surpassing the $200 mark could trigger a substantial bull run.

The price of Solana (SOL) has seen a healthy uptick in the last 24 hours, gaining nearly 5% as the odds of a Solana ETF approval increase, according to the latest Bloomberg report.

Solana price today: healthy uptick in the last 24 hours

Solana price has remained range-bound for the past month, trading in a tight band of $150 to $170. However, the crypto is showing signs of a breakout as it edges higher in the last 24 hours.

At press time, SOL price is trading at $165, where it’s been consolidating for the past month.

The crypto is up more than 40% from its 2023 lows of around $110, which were hit in December 2023. It is also down over 60% from its all-time highs of over $270, which were reached in November 2021, at the height of the bull market.

Solana price could surge 5x to 10x after breaking $200

Solana is on the verge of a significant breakout, with analysts suggesting that surpassing the $200 mark could trigger a substantial bull run.

According to market expert Ali Martinez, this milestone might pave the way for a potential 5x to 10x surge in Solana price.

This would take the crypto to highs of $800 to $1,600, which are levels last seen in early 2021.

Breaking through $200 could be pivotal for #Solana as it might open the door for a major 5X to 10X rally in the coming months, potentially aiming for $800 to $1600 by early 2024.

A breakout above $200 would also invalidate the bearish count and suggest that the current bull market is set to continue.

— Ali (@ali_charts) June 10, 2025

Solana futures open interest soars 11%

Meanwhile, the Solana futures open interest has surged 11% in the last 24 hours, surging past $7.5 billion, suggesting strong bullish sentiment for the altcoin.

According to the CoinGlass data, the total futures open interest for Solana now stands at $7,707,575,100.

The massive open interest in Solana futures suggests that large institutions and traders are making significant bullish bets on the altcoin’s price to rise further.

At the same time, the Bitcoin futures open interest has also seen a substantial increase of 30%, reaching $18.2 billion.

The strong interest from institutional traders could be a major factor driving the recent price gains in both Bitcoin and Solana.

Solana ETF approval can trigger SOL price rally

Bloomberg ETF strategists James Seyffart and Eric Balchunas shared an important update noting that an altcoin ETF summer is around the corner, with Solana ETF having the highest odds of approval. A total of seven issuers have already filed for spot Solana ETFs.

Additionally, the Bloomberg analysts also stated that the US SEC may expedite decisions on spot Solana and staking ETF filings in response to Rex-Osprey’s efforts to leverage regulatory and legal workarounds to launch Solana and Ether staking products.

Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7

— Eric Balchunas (@EricBalchunas) June 10, 2025

The ETF Store President Nate Geraci commented on the development.

Looks like SEC about to open floodgates on crypto ETFs…

Last step before all major brokerages offer direct spot crypto trading.

Then we head down path towards full securities tokenization.

ETFs = bridge b/w tradi & defi.

That bridge is nearly built.

Crypto going mainstream.

— Nate Geraci (@NateGeraci) June 11, 2025

Furthermore, the daily trading volume for SOL has also seen a strong surge of nearly 40%, reaching $5.42 billion.

This indicates strong buying pressure on the cryptocurrency, which could push the price of SOL even higher in the coming days.

At the same time, the Bitcoin futures open interest has also seen a substantial increase of 30%, reaching $18.2 billion.

The strong interest from institutional traders could be a major factor driving the recent price gains in both Bitcoin and Solana.

The post Solana price shows signs of breakout as analysts predict 5x to 10x surge appeared first on Chain Teller.

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