TLDR
- Solana (SOL) outperformed Bitcoin and XRP with a 12% daily gain, reaching $156.60 despite recent market volatility
- Bloomberg analysts place 90% odds on SOL ETF approval this year, with potential launches expected this summer
- Solana’s daily active users increased 18.9% to 4.2 million over the past month, showing strong network growth
- Technical indicators show 79.23% of traders expect short-term gains, with key moving averages converging
- Crypto experts predict SOL could reach $200 this summer during an expected altcoin season
Solana has emerged as the top performer among major cryptocurrencies, posting a 12% daily gain while Bitcoin managed only 0.6% and XRP rose 1%. The token reached $156.60 on June 16, recovering from a low of $142 on June 15.
The cryptocurrency market faced pressure from global tensions, including the Israel-Iran conflict that created volatility across digital assets. Bitcoin fell to $100,000 earlier this month while Solana dropped to $142 before the recent recovery.
SOL has gained 8.7% since June 2024 and 0.5% over the past two weeks. However, the token remains down 6.2% from the previous month and sits 46.7% below its January all-time high of $293.31.
Solana’s network fundamentals show strong growth despite price struggles. Daily active users reached 4.2 million, marking an 18.9% increase over the past month according to Token Terminal data.
The token dropped from $179.66 in mid-May to $145.88 on June 14 before the recent bounce. This performance lagged behind Bitcoin and other major altcoins during the same period.
ETF Approval Could Drive Institutional Adoption
Bloomberg senior ETF analyst Eric Balchunas expects a 90% probability of SOL ETF approval this year. He believes Solana could lead what he calls an “alt coin ETF summer” and potentially receive approval before Litecoin despite later filing dates.
All seven potential Solana ETF issuers submitted updated documents including staking provisions at the SEC’s request. James Seyffart, another Bloomberg analyst, confirmed these regulatory developments.
UPDATE: Multiple stories broke the news earlier this week that the SEC had reached out to issuers requesting them to submit updated documents for their Solana ETFs & to include staking. As of 5 PM EST we have 6 of the 7 hopeful Solana ETF issuers that have submitted those S-1’s pic.twitter.com/WqPI2jf2CW
— James Seyffart (@JSeyff) June 13, 2025
SOL ETF approval could drive institutional investment and push the token toward its January levels when it traded around $250. During that period, Solana averaged over 5 million daily users in the month’s second half.
The potential for Federal Reserve interest rate cuts could also benefit riskier investments like cryptocurrencies. Such monetary policy changes typically drive capital toward higher-yield assets.
Technical Indicators Point to Potential Breakout
Solana’s long/short ratio jumped from 2.61 on June 11 to 3.81 on June 16, indicating 79.23% of traders expect positive short-term performance.
The token’s 50-day Simple Moving Average of $162.28 is approaching its 200-day SMA of $162.73. A sustained move above these converging averages could trigger additional buying interest.
Crypto expert Lark Davis noted that SOL is retesting the 50-day Exponential Moving Average. He expressed confidence the token could reach $200 during an expected altcoin season.
SOL 50 day EMA retest in play with a MACD bull cross yesterday. Decent risk reward spot here especially considering the ETF news.
Trade SOL NOW ON BITUNIX TRADE NO KYC – $10 FREE, 20% Deposit Bonus & $2000 Trading Bonus 👉 https://t.co/lnjKnJkat5 pic.twitter.com/OSZrMVfyBr
— Lark Davis (@TheCryptoLark) June 12, 2025
Changelly’s price prediction suggests potential short-term weakness, forecasting SOL at $153.17 by July 15. This would represent a 2.19% correction from current levels.
However, continued market recovery could override bearish predictions. The broader crypto market appears to be stabilizing after recent geopolitical tensions.
Bitcoin has reclaimed the $106,000 level while other altcoins show signs of recovery. Market participants are watching for continued momentum in the coming days.
The post Solana (SOL) Price: Token Rallies 12% While Analysts Predict Summer Rally to $200 appeared first on CoinCentral.
