Industry figures are increasingly confident that spot altcoin ETF could soon expand their offerings, fuelling bullishness for Solana price predictions.
The altcoin has attracted particular attention over alternatives like XRP, with Bloomberg Senior ETF analyst Eric Balchunas citing “100% odds” under new SEC generic listing standards.
With Solana being a qualifying asset under the framework, it lands on the fast track for approval, making S-1 filings the last barrier for a green light.
And with issuers recently submitting their fourth amendment, Balchunas places particular confidence that a spot SOL ETF approval could be imminent.
This first-mover advantage puts Solana in a unique position; Over time, the fast-track system could create oversaturation and dilute demand for any one spot ETFs.
Speaking with CNBC, ETF analyst David Nadig warned that the new standards could open the doors to as many as 3,000 crypto ETFs in the coming years.
Ahead of the crowd, Solana stands to reap the most demand as one of the few offerings for TradFi markets to gain crypto exposure.
Solana Price Prediction: Early TradFi Exposure Could Spark a Huge Breakout
This new demand could give Solana the momentum it needs to break out as it nears the apex of a 6-month ascending wedge pattern.
An early-month bounce has affirmed its most recent retest of lower support as a launchpad, setting sights on a breakout attempt.
SOL / USD 1-day chart, rising wedge pattern breakout imminent. Source: TradingView.Momentum indicators place bulls firmly in control of the next move. The RSI has found footing above the neutral line at 55, suggesting a full recovery from its sell-off, with buyers now leading.
The MACD histogram suggests the uptrend has staying power, about to cross above the signal line in a golden cross.
The key threshold for a breakout sits around $300, Solana’s early-year high. Flipping this level into support would validate a potential 130% rally to $500.
As the bull market matures further, stacking catalyst for demand could send the Solana price further.
With potential spot ETFs imminent and U.S. interest rate cuts fueling risk appetite, the Solana price could rally as high as $1,000, a 350% gain from current levels.
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The post Solana Price Prediction: XRP and SOL Eyed for ETF Approval – Are You Positioned Before the Stampede Hits? appeared first on Cryptonews.
