• Solana (SOL) shows resilience, holding above key $180 support despite recent market volatility.
• The Hong Kong Securities and Futures Commission (SFC) has approved the first-ever Solana spot ETF.
• Analysts expect a potential price surge toward $230–$290 if bullish momentum continues.

Solana (SOL) is showing resilience to maintain its upward trajectory as enthusiasm within the broader crypto market continues to intensify. Over the past 24 hours, its value has shown stability, while over the last week, it has secured a 5.16% increase, signaling growing investor optimism and market participation.

At the time of writing, SOL is trading at $194.00, supported by a 24-hour trading volume of $2.86 billion, which marks a 43.44% decline compared to the previous day’s activity. Despite this dip in volume, its market capitalization stands at $106.62 billion, highlighting resilient investor confidence and sustained market interest in the long-term potential.

Source: CoinMarketCap

Solana Spot ETF Approved in Hong Kong by SFC

The crypto analyst, Crypto News Hunters, noted that Hong Kong’s Securities and Futures Commission (SFC) has approved ChinaAMC’s Solana Spot ETF, launching on October 27, 2025, on the Hong Kong Stock Exchange. It becomes the city’s third spot crypto ETF after Bitcoin and Ethereum and the world’s first Solana spot ETF, offering exposure in HKD, USD, and RMB.

The ETF unlocks institutional Solana exposure across the Asia-Pacific, giving investors regulated access to SOL without direct token custody. Analysts view this as a major milestone for Solana’s adoption and Hong Kong’s crypto ambitions. While early inflows may be modest, the launch could drive fresh institutional momentum in digital assets.

Also Read: Solana October Forecast: Accumulation Builds as SOL Eyes $215–$230 Range

Solana (SOL) Eyes $290 as $180 Support Holds Strong

Moreover, a prominent crypto analyst, Ali, noted that Solana is still holding strong above the level of $180, which is an important area that could catalyze its next bullish move. It is anticipated that this scenario could propel Solana to reach $230, while an improvement in sentiments could propel it all the way to $290. Continuing buying pressure and increasing on-chain activity contribute to the optimistic scenario surrounding Solana.

Source: X

Solana’s overall network fundamentals continue to perform well, including DeFi, NFTs, and developer engagement. This keeps investors confident in the coin despite volatile conditions in the markets. If the current uptrend continues, protecting the $180 level, another surge could follow soon, bringing Solana into the limelight among top altcoins.

Solana Technicals Hint at Potential Upside Reversal

The SOL chart depicts a price retracement from $177 to $194 supported by the 50-week EMA resting at $177. The level of $193 provided immediate resistance at the 20-week EMA, while the levels of the 100- and 200-week EMAs near $154 and $121 provided strong levels of support. The price is seen consolidating after a pullback from the $240 level in early 2025.

Source: TradingView

The RSI is seen at 51.34, which displays a neutral momentum with a mild bullish bias, as it is positioned above the middle line. The MACD displays a positive histogram with a mild bullish crossover, which hints of an upside momentum. Solana is seen stabilizing after the pullback and has the potential to continue its upside momentum if it holds above the level of $190-$195.

Also Read: Solana (SOL) Faces Critical Resistance: Will It Surge or Drop Below $158?