Solana’s $170 Breakout Could Send SOL to $2,000, Say Top Analysts!

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Solana (SOL) is slowly winning back trader’s trust as it holds steady near $166. After dropping as low as $136 in June, SOL has bounced back with a 2.7% daily gain. This fresh push hints that buyers are warming up again during this ongoing crypto bull market.

But it’s not just hype, top chart analyst Ali Martinez says breaking $170 could start a big Solana rally.

Solana Spot ETF Approval Odd Surge

With Bitcoin and Ethereum both posting double-digit gains in the last 24 hours, the crypto market’s bullish mood is lifting other major coins too, and Solana isn’t being left behind.

Perhaps one of the biggest drivers behind SOL’s recent rise is the growing belief that a Solana spot ETF might soon get the green light in the United States. Polymarket, a prediction market, predicts that there’s a 90% chance this could happen by the end of this month.

Earlier this year, regulators already approved Solana futures ETFs, and Canada even launched its own Solana spot ETFs. Now, investors think the U.S. is next, which could mean more big money flowing into Solana soon.

New REX-Osprey ETF Lifts Confidence

Adding to the excitement, the new REX‑Osprey Solana and Staking ETF (SSK) recently launched on the Cboe BZX exchange. It pulled in over $12 million in its first day and saw a strong $33 million in trading volume.

What makes this ETF different is that it gives investors both direct Solana exposure and staking rewards. For many, this makes SOL attractive not just as a growth coin but also as a way to earn extra income by staking.

Solana Breakout Could Hit $2000

Popular crypto analyst Ali Martinez believes Solana could be on the verge of a major rally if it breaks above the key $170 resistance level. He points to a cup-and-handle pattern forming on the weekly chart, which often signals a strong upward move.

According to Martinez, if Solana clears the $170 mark, it could quickly rise to $200 or even $300 in the short term. 

But that’s not all—he also believes this breakout could trigger a much bigger bull run in the long term, possibly pushing Solana all the way to $2,000.

Right now, the Solana Fear and Greed Index is at 64, putting it in the “Greed” zone, which reflects growing investor confidence.