Solana Price Bull Flag Pattern Targets $300 as ETF Approval Odds Reach 99.7%

Key Highlights

Spot Solana ETF approval odds have surged to 99.7% on Polymarket, while SOL price has formed a bull flag pattern on the daily chart that targets $300. This technical setup, combined with the likely approval of a spot Solana ETF in 2025, could signal the start of a rally to new all-time highs.

SOL Price Bull Flag Formation Points to $300 Target

Solana price technicals indicate significant momentum potential if it breaks out of a bull flag pattern on the daily candle chart. A bull flag pattern is a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.

Bull flags typically resolve when the price breaks above the upper trendline and rises by as much as the previous uptrend's height. This puts the upper target for SOL price at $303, representing a 100% increase from current prices.

The daily RSI is moving above the midline, rising to 53 on Wednesday from near-oversold conditions at 31 on June 22, indicating increasing bullish momentum.

Critical Resistance Levels for Sustained Recovery

To ensure a sustained recovery, the SOL/USD pair must first overcome the resistance between $155 and $165, which are also the 50-day and 200-day simple moving averages.

Several analysts argue that SOL's growth to $300 is inevitable, citing increasing network flows, rising spot Solana ETF approval odds, and bullish onchain metrics.

Analyst Predictions and Market Sentiment

Crypto analyst CryptoBits noted that Solana's inevitability continues to grow as fund inflows from other chains are growing every week and month. The analyst's targets are sitting at $200, $300 and then uncharted territory at $500.

Market analyst Alek Carter suggests that strong fundamentals and SOL snapping its multimonth downtrend put it on a path to $300. The analyst highlighted that SOL is hitting hard fundamentally and broke the downtrend due to immense utility.

Solana ETF Approval Odds Surge to Record Highs

The likelihood of the US Securities and Exchange Commission approving a spot Solana exchange-traded fund (ETF) in 2025 jumped to 99.7% on July 2, according to Polymarket data. The odds currently stand at 99% at the time of writing, signaling investor confidence in Solana's future in traditional financial markets.

Multiple ETF Applications Signal Strong Demand

Multiple spot Solana ETF applications from asset management giants like VanEck, Grayscale, 21Shares, Bitwise and Canary Capital signal robust demand for regulated SOL investment vehicles.

Bloomberg senior ETF analyst James Seyffart expects a wave of new ETFs in the second half of 2025, placing the Solana ETF approval odds at 95%.

SEC Delay Expected but Viewed Positively

Although the SEC delayed its decision on Fidelity Investments' spot Solana application, Seyffart noted that the delay was expected and that interactions between the SEC and issuers should be viewed positively.

Institutional Capital Could Drive Massive Price Gains

Approval of spot Solana ETFs could unlock institutional capital, amplifying demand for SOL and potentially driving prices higher. Some analysts are predicting targets as high as $1,300 following ETF approval.

Technical Analysis Summary

The bull flag pattern on Solana's daily chart represents a significant technical development that could propel the cryptocurrency toward the $300 target. Combined with improving RSI momentum and potential ETF approval, multiple factors are aligning for a potential major rally.

The convergence of technical patterns, institutional interest through ETF applications, and improving market sentiment creates a compelling case for Solana's upward trajectory in 2025.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.