On July 31, several major financial institutions submitted amendments to the Solana Spot ETF’s S-1 registration statement. This includes top players such as Bitwise, Canary Capital, Coinshares, and Grayscale. Grayscale’s filing also includes a 2.5% pricing structure paid in SOL, suggesting that the company is already treating this like a serious product.
The fact that these revisions are currently being made indicates that dialogue with the SEC has moved beyond the idea stage. These filings are refined and yet there is no green light, but regulators are actively reviewing and discussing cryptographic ETF structures such as SOL, XRP, and Doge. This is especially important for Layer 1 like Solana, who fought both technical challenges and competition with the new chain.
How did Solana prices respond to ETF development?
To my surprise, the price of Solana did not rise. On the contrary, Sol Price fell 3.29% on the day the application was published. That’s not the reaction that many people expected. After all, Bitcoin surged when the ETF was confirmed. Ethereum followed a similar pattern. However, Solana printed a long red hikin reed candle and closed at 170.24.
This indicates one of two things. First, the news about the Solana ETF is already priced. Traders who purchased the July rally are making profits. Second, the market does not fully consider approval to be imminent. Especially since the SEC is still reviewing the language of filing. In any case, the short-term emotions cooled down quickly. The other is that there is no Bitcoin reserve in Trump’s crypto reports.
Important technical indicators from the chart
Daily charts reveal some clear technological developments.
Heikin Ashi Candles: Red in five consecutive sessions, showing a consistent loss of bullish momentum. BollingerBands: Price drops to a middle band (now 179) and often acts as a pivot. The lower band is about 158, which could serve as a support if sales pressure continues. That level is now identified as a strong rejection zone.
The transition from green to red candles and rejection at 200 suggest that local tops may have formed. Unless Solana Price rebounds above 180, you may be able to participate in the revision phase.
What are the important price levels for August?
This is where things become interesting. August is set to be an unstable month with two important results on the table.
A bullish scenario
If Sol Price was able to hold the 168-170 zone and regain momentum above 180, he could move towards the 210, which was followed by a retest of 190. A day close of over 200 will disable the current pullback and pave the way for a fresh high in 2025. This could require ETF-related optimism to be re-evaluated through positive SEC comments and leaks about future approvals.
Bearish scenario
If you do not keep the 170 support range, the Solana price will be sent towards the 158th level. If it breaks, the next strong support is near 145, the level that was last seen during July integration. This confirms a deeper retracement phase, slowing the rise until the second half of the quarter.
Why Sol ETF News Are Important in the Long Term, but Not Right Now
It is important to understand that the approval process for Sol ETFs takes time. The SEC must provide feedback, request changes and ultimately make decisions. The filing shows progress, but not results. In August, Sol ETF hype is a more background story. Traders and institutions may accumulate during the dip, but unless more specific signs appear, they are unlikely to be a fore-and-a-half approval.
So, the long-term impact is very bullish for Solana, but don’t expect fireworks in the coming days unless you receive an unexpected announcement. Solana ETF Talk brings reliability, but price action remains king in the short term.
Solana Price Prediction: What is the final outlook for Solana prices in August?
The Solana ETF development is a robust bull catalyst for the coming months, but is colliding with short-term technical weaknesses. Solana came together strongly in July and the market is currently taking breather. August may be defined by whether Sol can recover 180 levels above 158. If so, we are back in bullish territory. If it breaks down, the fix can range from 145 or 130 before finding actual support.
For now, traders need to remain cautious and see behavior at prices around 168-170. If a buyer appears, the Sol ETF story could fuel another foot higher. If not, expect slower crushing while the market waits for clarity from Washington.
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