Will Solana (SOL) be the belle of the crypto market this summer?

Jakarta, Pintu News – Solana has risen by 6.6% in the past week, fueling hopes among digital asset holders that the cryptocurrency may be about to embark on a significant rally. Such a rally could potentially push it to reach new record highs. Strengthening fundamentals and bullish technical signals support this optimistic view.

Solana (SOL) prepares for a spectacular summer season

According to a recent post on CryptoQuant by contributor burakkesmeci, Solana (SOL) is currently in a cooling phase on Bubble Maps in both the spot and futures markets. The analyst shared a chart to highlight this cooling period. For those unfamiliar, Bubble Map visualizes cross-exchange volume data, with each bubble representing trading activity for a particular pair or platform.

The size of the bubble indicates the total volume, while the color indicates the intensity or change in that volume, such as cooling (green), neutral (gray), or overheating (red). This cooling phase does not necessarily indicate a decrease in momentum.

On the contrary, analysts from CryptoQuant suggest that this slowdown could be a strategic accumulation phase, mainly due to potential upcoming catalysts. The crypto community is widely expecting the US Securities and Exchange Commission (SEC) to approve the first Solana (SOL) exchange-traded fund (ETF) in the coming weeks.

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Solana Key Indicator (SOL) Shows a Buy Signal – Is a Rally on the Way?

At first glance, lower trading volumes may seem like waning momentum. However, CryptoQuant analysts suggest that this slowdown could be a phase of strategic accumulation, especially due to potential upcoming catalysts.

Many in the crypto community are expecting the US Securities and Exchange Commission (SEC) to approve the first Solana (SOL) exchange-traded fund (ETF) in the coming weeks. From a technical standpoint, things are also looking encouraging. In a recent post on X, crypto analyst Ali Martinez stated that if Solana (SOL) manages to break above the $200 mark, it could trigger a 5x to 10x price increase.

Martinez shared a weekly chart of SOL that shows the digital asset forming a bullish Cup and Handle pattern. While the “cup” part has been completed, the emerging “handle” indicates the potential for significant price appreciation – possibly pushing SOL past $2,000.

Solana (SOL) shows potential, but remains cautious

Despite widespread optimism, some indicators suggest caution. Recent on-chain data revealed a large movement of inactive SOL coins, which has raised concerns about mounting selling pressure in the short term. However, a large number of analysts believe that Solana (SOL) could surpass its current ATH of $293 later this year. At press time, Solana (SOL) was trading at $167.30, up 3.5% in the last 24 hours.

Conclusion: Bright Prospects with Caution

Solana (SOL) shows a lot of promise as a prime candidate for a big rally this summer. However, it is important for investors to pay attention to market indicators and recent news to make informed investment decisions. With potential ETF approval and favorable technical indicators, the future looks bright for Solana (SOL), but it still needs to be balanced with careful analysis.

Also Read: Crypto Market Optimism: Can Optimism (OP) Break $0.72?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Solana Bubble Maps Turn Neutral, Is This the Setup for a SOL Summer Rally? Accessed on June 12, 2025
• Featured Image: ZipMex