- Franklin Templeton files SEC Form 8-A, signaling a Solana ETF could provide regulated exposure for investors.
- Solana’s RSI is 39.69, suggesting selling pressure may ease and minor short-term consolidation is possible.
- A breakout above $142 may trigger a rally to $188, while rejection could push $SOL back to lower support levels.
Solana (SOL) is on the way to its positive price trajectory with the slight increment in its value. The token is currently trading at $136.37, with a surge of 1.23% over the last 24 hours.
However, the crypto analyst, Curb.sol, revealed that Franklin Templeton, the $1.67 trillion investment powerhouse, has filed a Form 8-A with the SEC, signaling a SOL ETF is on the way. This move could give investors regulated exposure to Solana without buying crypto directly. It reflects growing institutional confidence in the high-speed, smart-contract blockchain.
The proposed launch of the ETF marks a major milestone in the adoption of cryptocurrencies. Additionally, the proposed SEC approval could prove an important factor in boosting the liquidity and recognition process of Solana. The proposed crypto ETF approval process by the SEC positions Franklin Templeton at the forefront of the ever-changing world of crypto investment.
Also Read: Solana’s (SOL) Push Toward $145: Will November Mark a New Upswing?
Solana Technicals Signals a Short-Term Relief
The SOL price chart on a weekly timeframe reveals that the price touched the peak levels of $200-$250 in the latter part of 2024 and the middle of 2025, respectively, and has subsequently plummeted to test the lower Bollinger Band at $128.6. The latest formation has depicted a minor rally to $136.37, whereas the mid-level Bollinger Band at $188.8 suggests the weekly trend remains downward.
Source: TradingView
The RSI stands at 39.69, which is lower than the 50-level, suggesting the asset could be nearing an oversold situation and the selling momentum could slow. There could be some kind of short-term consolidation or minor pullback, but the dominant trend remains negative, as the price remains beneath the mid-Bollinger Band. Key levels to watch would be the $128 support or a break beyond $188.8.
Solana Eyes $142 Amid Heavy Token Accumulation
Moreover, the crypto analyst, Ali, noted that Solana (SOL) faces strong resistance at $142, where it appears that approximately 13 million SOLs have accumulated in the past, according to on-chain data. The $142 price level represents a critical battlefront between bulls and bears, and the resultant effect may be an obstacle in the path of further gains.
Source: Ali
A firm rejection at $142 could cause a pullback to other lower support levels, and a major break could provide an entry point towards further gains. Analysts explain that large token groupings, such as this, tend to have an effect on the short-term price action. Traders are closely watching Solana’s actions.
Also Read: Solana (SOL) Shows Bullish Momentum $200 and $500 Price Targets in Sight
