Solana Worth Up 1.6% As Hong Kong Approves First Solana ETF

The Solana worth surged 1.6% within the final 24 hours to commerce at $187 as of three:30 a.m. on an 11% fall in buying and selling quantity to $7.13 billion.

This surge comes on the heels of stories that Hong Kong has grow to be the primary place on the earth to approve a spot Solana ETF, beating out the US as its approvals are slowed by the federal government shutdown.​

🚨 JUST IN: 🇭🇰 Hong Kong has formally authorized the first-ever $SOL Spot ETF by ChinaAMC!

Solana simply joined the massive leagues — institutional cash is coming 🟣🔥#Solana #Crypto #ETF pic.twitter.com/y7CUN32aJW

— SMC KAPIL DEV (@smckapildev) October 22, 2025

The approval is a significant milestone for the Solana group. The brand new ETF, managed by ChinaAMC, will start buying and selling on the Hong Kong Inventory Alternate on October 27. Traders will have the ability to purchase shares within the ETF utilizing USD, Chinese language yuan, or Hong Kong {dollars}.

With regulators within the US nonetheless reviewing related merchandise, this determination positions Hong Kong as a pacesetter in crypto innovation in a transfer that’s seemingly to attract new capital to Solana from each retail and institutional buyers.​

Solana Worth: On-Chain Tendencies

SOL worth dynamics have been influenced by a wave of on-chain exercise. Information reveals that whereas there was a downturn earlier in October, metrics like pockets development, transaction quantity, and staking participation proceed to sign nice ecosystem well being.

Solana’s on-chain stats stay a key purpose for rising curiosity.​Current blockchain analytics reveal that: There’s been a gradual improve in new pockets addresses and general community transactions, suggesting larger person engagement.​

Extra cash are shifting off exchanges and into non-public wallets, an indication that long-term holders are accumulating somewhat than promoting.

The variety of staked SOL tokens is climbing, giving confidence to the community’s safety and future prospects.

Consultants observe that these on-chain indicators are intently adopted by merchants as a result of rising community exercise can result in new worth highs, particularly when mixed with a constructive information cycle just like the ETF launch. In consequence, the coin worth may benefit not simply from hypothesis however from precise adoption and utilization on the blockchain.​

Solana Technical Evaluation: Key Ranges To Watch

Wanting on the worth chart, Solana’s worth is holding above necessary assist ranges and stays in an ascending development channel. The weekly chart reveals SOL buying and selling simply above two essential easy shifting averages: $183.20 (50-period SMA) and $102.00 (200-period SMA).

These SMAs are sometimes utilized by merchants to gauge market path and development power.

The $183.20 worth is performing as the primary main assist space, backed up by the 50-SMA. If the worth dips close to this stage, new consumers have tended to step in shortly, pushing it larger.

SOLUSD Evaluation Supply: Tradingview

Falling beneath the $183 zone might open up a retest of the following massive assist round $102, as marked by the 200-SMA, although such a dip would seemingly attract robust demand from long-term holders.

Resistance is at present seen close to $195–$200, with a break above this barrier probably triggering a transfer in the direction of the earlier excessive close to $295. If the ETF launch results in a stronger worth response, these targets could come into sight a lot sooner.

Solana Worth Indicators Flip Bullish Forward

Technical indicators are additionally signalling optimism. The RSI (Relative Energy Index) is close to 50, which suggests worth is neither overbought nor oversold, leaving room for motion in both path.

The MACD (Transferring Common Convergence Divergence) sits near impartial however is gently turning up, a clue that consumers might begin to dominate if the development strengthens.

Whereas the ADX (Common Directional Index), at present at 15.24, reveals that the development shouldn’t be exceptionally robust, a pickup might point out the beginning of a significant swing.

The chart reveals an upward development with a transparent assist space on the rising black line and a resistance on the prime of the channel. As Solana trades between these strains, the outlook stays constructive so long as assist ranges maintain.

If the worth can escape above the higher resistance line, the following major goal is $218, with a shot at earlier highs close to $295.​

Nonetheless, if the worth stumbles or if profit-taking hits the market, merchants ought to watch the $183 and $102 ranges for indicators of assist and long-term shopping for exercise.​​

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