Solana Price Forecast - SOL-USD Jumps to $190 as Hong Kong’s First Solana ETF Sparks Global Demand

Solana (SOL-USD) Soars Around $190 as Hong Kong’s First Solana ETF Ignites Institutional Demand and On-Chain Momentum

Solana (SOL-USD) trades near $190.76, gaining 5.7% over 24 hours as a perfect storm of catalysts — including Hong Kong’s first Solana spot ETF approval, surging on-chain metrics, and accelerating institutional activity — reshapes the blockchain’s global standing. The Hong Kong Securities and Futures Commission (SFC) approved the ChinaAMC Solana ETF, scheduled to begin trading on October 27 across HKD (3460), USD (9460), and RMB (83460) denominations on the Hong Kong Stock Exchange (HKEX). This listing, marking Asia’s first Solana ETF, positions Hong Kong ahead of both the U.S. and Europe in regulated crypto adoption. The ETF’s management fee stands at 0.99%, with total annual costs estimated near 1.99%, offering investors direct exposure to Solana’s price without custody or staking requirements.

Historic ETF Launch Fuels Asia’s Crypto Leadership

The Solana ETF approval solidifies Hong Kong’s leadership in digital asset regulation. Following its earlier Bitcoin and Ethereum ETFs, the Solana addition gives Asia its third spot crypto ETF, signaling deepening institutional confidence. China Asset Management (Hong Kong) spearheads this initiative, supported by OSL Exchange and OSL Digital Securities, ensuring institutional-grade trading infrastructure. Each ETF lot contains 100 units, with a minimum investment around $100, making Solana’s ETF accessible to both retail and professional investors. In contrast, the U.S. SEC continues to stall similar approvals, despite pending filings from VanEck and 21Shares. This regulatory gap has allowed Hong Kong, Canada, and Brazil to outpace the U.S. — with Canada launching four Solana ETFs in April and Brazil introducing its first Solana ETF last year. The shift underscores Asia’s rapid institutionalization of blockchain assets, where liquidity and compliance increasingly converge.

Solana (SOL-USD) Price Holds Strong Amid ETF Optimism and On-Chain Growth

Solana’s spot price remains in consolidation after testing highs of $189.49 and lows near $177, with 24-hour trading volume surpassing $73.58 million (≈401,578 SOL). The token’s resilience above $183 support demonstrates sustained demand despite profit-taking following the ETF announcement. Analysts describe the price as “coiling within a symmetrical triangle” between $177–$195, a technical compression pattern often preceding explosive breakouts. A decisive move above $195 could push SOL-USD toward $210–$225, while failure to hold above $183 risks short-term dips to $175 or even $163. The Relative Strength Index (RSI) has rebounded from neutral levels, while MACD inches toward a bullish crossover — signaling a shift in sentiment after several failed recovery attempts earlier in October.

On-Chain Activity Surges: New Addresses Hit Monthly Highs

Network fundamentals are surging. Data from Glassnode shows new wallet addresses for Solana hitting a monthly high, a strong sign of user expansion and renewed investor confidence. This surge indicates growing adoption across decentralized finance (DeFi), NFTs, and real-world asset tokenization, bolstering Solana’s liquidity base. As of this week, Solana’s total on-chain transactions exceeded 900 million, while active wallet addresses rose 8% week-over-week, a reflection of heightened participation ahead of the ETF debut. Increased address creation often precedes sustained rallies, and this rise supports the narrative that the Solana ecosystem is regaining its status as a top-tier blockchain for high-speed applications.

Institutional Momentum Builds: Solana’s “Wall Street for Web3” Moment

Institutional appetite continues to grow. Bitwise CIO Matt Hougan called Solana “the new Wall Street,” emphasizing its low fees, high throughput, and real-world asset (RWA) capabilities. Institutional staking demand also picked up after the Solana Staking ETF discussion, which promises 6–7% annualized yield once regulatory frameworks allow. Liquidity inflows into Solana-based funds, though mixed, reflect ongoing accumulation. CoinShares reported $15 million in inflows into Solana investment vehicles last week — the strongest among altcoins. With ETFs now offering a regulated on-ramp, analysts expect significant institutional repositioning from Ethereum and Avalanche toward Solana due to its superior scalability and developer activity.

Technical Landscape: Bullish Compression Points to Breakout Potential

Technically, SOL-USD exhibits a tightening price structure consistent with a symmetrical triangle, marked by lower highs and higher lows. The Ichimoku Cloud, currently hovering above $190, shows narrowing resistance — a precursor to potential breakout conditions. If price closes decisively above $195–$200 with expanding volume, it could trigger a surge toward $225–$250, matching resistance levels from earlier this year. Momentum indicators confirm strengthening upside bias: MACD histogram turning positive, RSI trending upward from 52 to 61, and Bollinger Bands constricting sharply, signaling imminent volatility. Conversely, a rejection near $195 might prompt a retest of $175 support, which coincides with the 20-day EMA — a zone that has historically acted as a springboard for bullish reversals.

Macro and ETF Correlation: Market Rotations Favor Solana

Broader market rotation is beginning to favor altcoins after Bitcoin’s stabilization near $108,000. Traders are reallocating into Solana (SOL-USD) and Ethereum (ETH-USD) as they anticipate the next leg of the altcoin cycle. Hong Kong’s ETF approval adds credibility to this trend, as institutional investors now gain regulated access to Solana exposure, much like spot Bitcoin and Ethereum ETFs did earlier this year. The ETF’s introduction is also expected to drive liquidity flows into Asian exchanges, potentially adding $150–200 million in new demand during Q4 2025. This aligns with Solana’s rising integration into fintech payment systems, DeFi staking protocols, and Web3 payroll networks, where Solana’s speed (up to 65,000 transactions per second) and cost efficiency (<$0.002 per transaction) give it a decisive advantage over competing L1 blockchains.

Solana and Crypto Payroll Integration Signal Growing Real-World Utility

Fintech startups are now incorporating Solana-based payroll solutions to reduce settlement costs. With Solana’s transaction fees 99% lower than Ethereum’s, platforms like OneSafe and DePay are piloting cross-border payroll in SOL, allowing companies to pay employees instantly without banking intermediaries. Stable Solana pricing near multi-month support strengthens this use case, providing predictability for employers and contractors. If the price stabilizes above $190–$200, adoption could accelerate further, with developers already testing stablecoin-based salary structures using USDC on Solana.

Global ETF Race: Hong Kong Leads, U.S. Lags

While Asia and Europe move swiftly, the U.S. SEC remains reluctant to approve spot Solana ETFs. The VanEck Solana ETF filing and 21Shares’ proposal remain under review. By contrast, Canada and Brazil have already approved their respective Solana ETFs, and Europe’s SIX Swiss Exchange offers Solana ETPs like 21Shares ASOL, which trade at small premiums to spot. However, none of these products match the regulatory transparency and accessibility of Hong Kong’s model. This divergence positions Asia as the new capital for regulated digital asset innovation, driving a narrative shift that increasingly treats Solana as a mainstream investable asset class, not just a speculative token.

Price Outlook: $200 Breakout Zone and Beyond

Solana’s near-term direction hinges on whether bulls can pierce the $195–$200 resistance zone. A successful breakout would target $225 initially, followed by $250–$275 if momentum continues through November. If Bitcoin (BTC-USD) maintains stability near $108K–$110K, traders expect rotational capital inflows into Solana, potentially testing $300–$323 by year-end. On the downside, losing $175 support would delay this breakout, with $150 forming a key accumulation zone where long-term investors may re-enter. The technical and macro setup together suggest an inflection point approaching — one that could redefine Solana’s trajectory heading into 2026.

Verdict: SOL-USD – Bullish, Buy Range $175–$190, Target $250+ on ETF Momentum

With its price consolidating near $190, strengthening network activity, and Asia’s regulatory green light, Solana (SOL-USD) stands at a defining moment. The combination of surging on-chain participation, institutional inflows, and ETF-driven demand positions Solana as a top-performing Layer-1 for Q4 2025. The technical picture, regulatory backdrop, and macro rotation all favor continued upside, with $175–$190 seen as an accumulation range and $250–$300 as attainable targets into early 2026.

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