TLDR

Solana (SOL) is currently trading at around $134-$135, up approximately 6% in the last 24 hours
Trading volume has increased by 60-69%, reaching over $3.6 billion, indicating strong investor interest
Volatility Shares is launching the first Solana Futures ETFs (SOLZ and SOLT) on the US market
Solana has corrected over 50% from its November 2024 high of $270
Technical analysts suggest a potential upside target of $150-$180 based on a breakout from a converging triangle pattern

Solana (SOL) has seen a 6% price increase in the past 24 hours, reaching $134.13 as of Thursday morning. This price jump coincides with the launch of the first-ever Solana Futures ETFs by Volatility Shares and comes after weeks of price consolidation.

The cryptocurrency’s trading volume has surged by almost 70% to $3.6 billion. This spike in activity suggests renewed investor interest in the token, which has been in a recovery phase since its major correction earlier this year.

Solana hit a high of $292 in January 2025 before pulling back. It has been on a gradual uptrend since then, though it remains well below its peak values.

Solana
SOL Price

The Florida-based investment firm Volatility Shares is introducing two Solana Futures ETFs to the US market today. These will trade under the tickers SOLZ and SOLT.

SOLZ will directly track Solana futures contracts. SOLT, the leveraged version, will provide investors with double exposure to Solana price movements.

This ETF launch follows the same trajectory that preceded spot Bitcoin ETFs. Many market observers view it as a stepping stone toward eventual spot Solana ETFs.

Technical analysts have noted that Solana has broken out of a converging triangle pattern. This breakout suggests a potential upside target in the $150-$180 range according to some chart watchers.

The futures open interest for Solana has increased to $2.7 billion. This level was last seen in October 2024, indicating growing participation in the Solana derivatives market.

Since reaching highs of around $270 in November 2024, Solana has experienced a correction of more than 50%. However, market analysts believe the token may be forming a bottom and could reverse its downward trend.

Crypto Market

The broader cryptocurrency market has shown strength following Tuesday’s Federal Reserve decision. The Fed kept interest rates unchanged at 4.5%, which was in line with market expectations.

Solana’s price action is occurring alongside positive movement in the broader crypto market. Bitcoin has been trading above $85,000, which often sets the tone for alternative cryptocurrencies.

Solana continues to attract developers and users due to its technical capabilities. The blockchain can process thousands of transactions per second with low fees, making it popular for NFT projects and DeFi applications.

Recent news suggests that a new DeFi platform may be launching on Solana. Such developments typically bring more users and capital to the ecosystem, potentially supporting price growth.

Despite its strengths, Solana has faced challenges in the past. Previous network outages have caused concern among investors, though the team has worked to address these issues.

A minor network glitch reported yesterday briefly worried some investors. While not a major incident, such technical issues can impact short-term price sentiment.

Looking at global economic factors, inflation remains a concern worldwide. Central bank policies on interest rates could affect risk assets like cryptocurrencies if the market environment changes.

The post Solana (SOL) Price Prediction & Analysis: Is the Sleeping Giant Finally Awakening? appeared first on CoinCentral.

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Filed under: News - @ March 20, 2025 9:19 am