Key factors:
Spot Solana ETF approval odds leap to 91% on Polymarket.
SOL futures open curiosity is up 22% in a month, signaling robust institutional curiosity.
A SOL value bull flag is in play on the each day chart, concentrating on $315.
Solana’s native token, SOL (SOL), displayed power on June 16, climbing 9.5% to commerce at $157 from a low of $144 on June 15. Its each day buying and selling quantity has jumped by 100% over the past 24 hours to $4.5 billion, reinforcing the depth of the demand-side exercise.
Solana ETF approval odds leap above 90%
Hypothesis round a possible spot Solana exchange-traded fund (ETF) for SOL in america stays essentially the most vital catalyst behind SOL’s rally right now. Bloomberg analysts mentioned that the US Securities and Change Fee might “act early” on Solana and staking ETF filings, inserting the approval odds at 90%.
In the meantime, approval odds on Polymarket have jumped to 91% on June 16 from 77.5% lower than 10 days in the past.
This elevated optimism got here after seven asset managers, together with VanEck, Grayscale, 21Shares, Bitwise, Canary Capital, and Franklin, filed their S-1 kinds for Solana ETFs with the SEC, signaling progress within the approval course of.
Associated: stake Solana (SOL) in 2025: A step-by-step information for newcomers
Moreover, Invesco and Galaxy Digital have introduced intentions to launch a Solana ETF Belief in Delaware, including to the strong institutional curiosity.
🚨 BREAKING: Invesco Galaxy $SOL ETF registered in Delaware. pic.twitter.com/sPHvREErYi
— Cointelegraph (@Cointelegraph) June 13, 2025
Approval of those funds might unlock institutional capital, amplify demand for SOL and doubtlessly drive costs to new all-time highs, with some analysts predicting targets as excessive as $1,300.
Solana Open Curiosity nears all-time highs
An improve in open lengthy positions within the futures market preceded SOL’s rally to $157 right now.
On June 12, whole open curiosity on SOL futures reached 45.87 million SOL, the very best in over two years and up 22% over the past 30 days. The OI stays excessive at 43.86 million SOL on the time of writing on June 16.
In greenback phrases, this represents $6.86 billion in futures positions, rating third within the cryptocurrency market and over 71% greater than the demand for XRP derivatives.
The rising OI signifies robust institutional participation and leveraged bets on SOL’s value trajectory, with an extended/brief ratio skewed towards bullish positions on exchanges like Binance.
Whereas this heightened exercise introduces liquidation dangers, it underscores rising confidence in Solana’s upside potential, amplifying right now’s value momentum.
SOL value bull-flag hints at $315
SOL value has fashioned a bull flag chart sample on the each day chart, as proven under.
A bull flag sample is a bullish setup that kinds after the worth consolidates inside a down-sloping vary following a pointy value rise.
Bull flags sometimes resolve after the worth breaks above the higher trendline and rises by as a lot because the earlier uptrend’s top. This places the higher goal for SOL value at $315, or a 100% improve from the present value.
The each day RSI elevated to 50 on June 16 from 38 two days in the past, indicating rising bullish momentum.
As Cointelegraph reported, the SOL/USD pair should first flip the 50-day easy shifting common at $161 (which coincides with the flag’s higher boundary) into new assist to make sure a sustained restoration.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a call.
