Solana (SOL) Eyes Key Resistance at $210 Amidst Uncertainty

Technical Outlook and Price Targets

Solana (SOL) is currently trading near a critical resistance level at $210, with potential breakout targets ranging from $250 to $360 based on Fibonacci projections and the formation of an ascending triangle pattern. Analysts are closely monitoring the price action around this key level, as a successful breach could signal a significant upward movement for the cryptocurrency. However, failure to overcome the $210 barrier may result in a retest of the $175 support zone, offering a potential buying opportunity for traders.

Impact of SEC Delays on Solana ETF Approvals

Short-term uncertainty looms over Solana's price trajectory due to delays in the approval of two Solana ETF applications by the U.S. Securities and Exchange Commission (SEC). The decisions on ETF applications from Bitwise and 21Shares Core have been postponed until October 16, 2025, potentially affecting institutional liquidity and trader sentiment. While technical indicators remain positive, the delay introduces caution among traders awaiting regulatory clarity.

Technical Indicators and Support Levels

Recent price movements have seen Solana testing the $205 resistance multiple times, with each attempt facing rejection and highlighting the significance of the $210 level. Technical indicators such as the MACD and RSI suggest a waning bullish momentum, with the $180 support level emerging as a critical zone for potential rebounds. Traders are advised to closely monitor volume and price action for signals of renewed buying interest and to watch for key support and resistance levels in the coming weeks. In conclusion, Solana's price action remains at a critical juncture as it approaches key resistance levels amidst regulatory uncertainties. The technical outlook suggests a potential breakout scenario if SOL can surpass the $210 barrier, while caution is advised in the face of ongoing volatility and macroeconomic factors. Traders are urged to stay vigilant and adapt their strategies accordingly as the cryptocurrency navigates these crucial levels in the near term.