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Solana 
$136 (SOL) has made a notable resurgence on the weekly chart. As the cryptocurrency market experiences a recovery, interest in Solana has intensified. Improvements in technical indicators and rising expectations for ETF approval are enhancing the upward potential for SOL prices. Additionally, significant innovations within the ecosystem are fueling this interest.
Technical Signals Strengthen with Eyes on $200
Recently, Solana has been progressing towards critical resistance levels. Technical analyses suggest that if the current trend continues, the price could rise to $200. This level is perceived as a psychological threshold for many investors. Indicators like the Relative Strength Index (RSI) also show notable upward momentum. However, some analysts caution that if support levels are not maintained, pullbacks may become inevitable.
The optimism among Solana investors is reflected by expectations of over 80% for price increases. However, the volatility risk continues to be a topic of concern. Sudden movements by large whales or the overall market direction could quickly reverse these positive expectations. Thus, investors remain both hopeful and cautious.
ETF Process and Institutional Expectations
Developments regarding Solana’s ETF application have generated excitement in the market. According to Bloomberg analyst James Seyffart, the initial deadline for the ETF is set for October 10. However, there is a possibility that the SEC may expedite the process. The high likelihood of approval has already increased preemptive buying of SOL.
If the ETF is approved, Solana is expected to enter the radar of institutional investors more frequently, similar to Bitcoin 
$85,358 and Ethereum 
$1,613. This could positively reflect on price performance. Furthermore, the ETF process is seen as a development that solidifies trust in Solana on an institutional level.
Some market experts believe the ETF impact will not be limited to price alone. With increasing institutional interest, there could be a growth trend in SOL-based projects and ecosystem investments.
Rebranding and Wave of Innovations in the Ecosystem
Alongside the technical upswing of Solana, there is also activity within the developer community. The rebranding of the Proof-of-Stake protocol is viewed as a move to refresh confidence in the network’s future. A new feature called Confidential Balances aims to enhance privacy in user transactions.
Moreover, the Open Source Relayers partnership focuses on creating a more transparent and developable network structure. These steps elevate Solana not only in technical aspects but also in user experience and security.
With the revival of the meme token trend, projects like PumpFi and PumpSwap developed on Solana are also gaining attention. While these applications may be speculative, they keep user interest alive and add dynamism to the ecosystem. Thus, Solana continues to stand out not just for its price but also for its development activities.
