Driven by favourable information such as CME's upcoming Solana Options and ETF expectations, Solana (SOL) may start the next pump, aiming for 310 dollars.

Solana's recent price is consolidating around $238.45, but the market is gaining new upward momentum. The Chicago Mercantile Exchange (CME) announced that it will launch Solana and XRP futures options on October 13, marking institutional-level recognition for the token. With the SEC's new regulations opening the door for SOL spot ETF applications, the market is full of expectations for a new round of institutional capital inflow. Analysts believe that this consolidation may lay the foundation for SOL's next major breakthrough, with mid-term prices expected to reach $310.

Institutional Interest Soars: CME to Launch Solana Options

The world's largest derivatives exchange, the Chicago Mercantile Exchange (CME), will launch Solana (SOL) and XRP Options on October 13. This expansion marks the first time CME has included other altcoins in its options product line beyond Bitcoin and Ethereum, highlighting the growing demand from institutions for broader cryptocurrency exposure.

Since its debut earlier this year, Solana and XRP futures have shown significant growth momentum. Since March, Solana futures have traded over 540,000 contracts, with a nominal value of $22.3 billion, and in August, the average daily trading volume set a record of 9,000 contracts. XRP futures have also attracted investor interest, with trading volume reaching $16.2 billion in August alone, and open interest hitting $942 million. Giovanni Vicioso, CME's global head of cryptocurrency products, stated that this reflects the "significant growth and liquidity" in these markets.

ETF Prospects Ignite Optimism

According to the SEC's new listing framework, Solana is now also eligible to apply for a Spot ETF. The new rules stipulate that any altcoin that has a well-established futures market for at least six months on a regulated exchange can apply. Given that Solana futures have been traded on Coinbase and CME, SOL has the potential to receive ETF approval.

Analysts believe that the launch of Spot ETFs can unlock new institutional demand, and its impact will be similar to the situation earlier this year when Bitcoin ETFs attracted billions of dollars in inflows. The inflow of institutional capital has also been increased by Grayscale's CoinDesk Crypto 5 ETF, which is listed on NYSE Arca. This fund includes Bitcoin, Ethereum, XRP, Solana, and Cardano, providing investors with a diversified portfolio of major digital assets. The fund's debut highlights the growing demand for regulated, multi-asset crypto products in the market and may deepen Solana's liquidity in the coming quarters.

Technical Analysis: SOL price is between consolidation and breakout

From a technical perspective, the price prediction for Solana remains neutral as SOL is consolidating within an ascending channel, fluctuating between the 50-hour EMA at $239 and the 200-hour EMA at $230. Buyers continue to defend at higher lows, but sellers remain active near the resistance zone of $248-253.

The Relative Strength Index (RSI) is 45, indicating neutral momentum but leaning towards the oversold area. The candlestick pattern shows demand support around $236, with repeated lower wicks suggesting strong buyer interest.

Price Prediction and Key Levels

Breaking through 244 dollars may open the channel to 248 dollars, followed by 253 dollars, and could further extend to the channel top near 259 dollars. If momentum continues, analysts believe that SOL may test 300 dollars in the medium term, and if the ETF approval accelerates capital inflows, it could even reach 310 dollars.

On the downside, a break below $231 could expose support at $226, or even $220, although broader institutional trends suggest that the price decline may only be temporary. For investors, the current consolidation could lay the groundwork for Solana's next major rebound in 2026.

Conclusion

Solana is at a critical moment in its development path. The launch of CME futures options and the listing of Grayscale's multi-asset fund have provided unprecedented institutional recognition and liquidity for SOL. More importantly, with the implementation of the SEC's new regulations, the approval of a Solana spot ETF has become a realistic expectation. The current price consolidation is not a signal of weakness, but rather a healthy bottoming process that lays a solid foundation for the impending influx of potential institutional funds and the subsequent price rise. This synergy between fundamentals and technicals suggests that SOL is likely to experience another significant bull market in the coming quarters, further solidifying its position as a mainstream digital asset.