Solana Price Prediction: ETF Delays Raise Alarm – Will the Price Drop Below $100?

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Solana has increased by 0.5% in the past 24 hours, as the cryptocurrency struggles to regain its growth momentum after the SEC delayed its decision yesterday on several SOL ETFs. At $167, SOL has currently decreased by 6.5% in a week, but this altcoin has still increased by 13% in two weeks and 20% in a month. While yesterday's news may disappoint some holders, others are not surprised that the SEC still has a deadline in October for most ETFs. With its position as the second largest exchange after Ethereum, Solana has every opportunity to witness the approval of an ETF by the end of this year, which could drive the long-term price predictions of this cryptocurrency to soaring heights. Solana Price Prediction: ETF Delay Triggers Warning – Will the Price Drop Below $100? This is not the first time the SEC has delayed its decision on the Solana spot ETF. The regulatory agency has done this before in March. This is why yesterday's delay did not have a significant negative impact on the price of Solana, as the actual price has increased by more than 40% compared to the price on March 11, when the SEC postponed its decision on the 21Shares, Canary, and VanEck Solana ETFs. This time, the SEC has added the Bitwise Solana ETF to the above delay list, following the delay of the Grayscale SOL ETF last week. It can be said that such delays are normal, as regulators have postponed the approval of Bitcoin ETFs for many years before approving the first batch last year. Therefore, Solana holders do not need to worry too much, as the chart of this coin currently shows that it is still on an upward trend. The relative strength index (purple) of this cryptocurrency has increased since the beginning of April, and considering the long period this index has been below 50, this cryptocurrency still has time to maintain a high bullish position.

Indeed, the 30-day moving average (orange) of SOL also indicates an ongoing increase, as it is about to surpass the 20-day moving average (blue) and form a golden cross. Therefore, we may witness the price of Solana continuously rising for several more weeks, despite the SEC delaying the ETF. Partly due to the market in general recovering as the tariff situation improves, but also because Solana remains one of the strongest coins in the market in terms of fundamentals. Its total locked value is $9.2 billion, making it the second largest layer one network in the cryptocurrency ecosystem. Therefore, the price of Solana could reach $200 in the coming weeks, before hitting $300 in Q4.

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