Solana Rebounds From Major Trendline as ETF Buzz Grows — What’s Next?

Solana rebounds from a critical trendline to the $200 level, a sign of a potential turning point.

SOL is traded below key moving averages, but oversold indicators hint at a possible short-term recovery.

ETF speculation and rising trading volume add fuel to the fire as Solana faces awaits to confirm its next big move.

Solana is back above $200 after a sharp drop shook the bulls. A key trendline bounce and rising ETF buzz have reignited hopes of a rally—but with bears still active, the next move could be explosive.

SOL Clings to Support Trendline

Solana's recent slide below the psychological $200 mark triggered concern among traders, but a sharp bounce off a major ascending trendline brought temporary relief. According to data from Alpha Crypto Signal, the trendline — in place since June — acted as dynamic support after a breakdown from the horizontal support zone around $203–$210.

SOL is trading around $200.64, recovering slightly from its weekly low of $190.88. Still, the token is down over 15% this week. The price has also slipped below both the 9-day EMA ($213.93) and the 50-day SMA ($207.99) — a signal that short-term momentum remains bearish.

Volume indicators show a spike in sell-side activity on the latest down day, indicating stronger participation from bears. If SOL fails to reclaim and hold the $200 level on a daily closing basis, analysts warn of a potential drop toward $177-$188, or even $150, a level not seen since early July.

Market Volatility Mounts Amid ETF Filing Surge

Major financial firms — including VanEck, Fidelity, Bitwise, Grayscale, Franklin Templeton, and CoinShares — filed updated S-1 forms with the U.S. SEC for spot Solana ETFs with staking features. These applications follow the REX-Osprey Solana Staking ETF launch two months ago, which saw $33 million in volume on day one.

Geraci speculated approvals could land within two weeks, potentially becoming a new bullish catalyst for SOL if market conditions stabilize.

Bulls Need to Reclaim Control

Technical indicators are showing early signs of exhaustion on the downside. Stochastic RSI now flashes oversold levels, historically a point where Solana has bounced. A breakdown from this structure could bring the token into uncharted territory, while a reclaim of $200–$210 could pave the way toward $250 again.

Failure to hold the $190-$200 zone makes finding firm support difficult until $150.For now, all eyes remain on how SOL closes the week — a sustained recovery above $200 may turn this breakdown into a false move. But any confirmed loss of the trendline support could trigger a deeper correction.

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