Solana is approaching to break the $175 resistance, with its rise supported by ETF speculation and significant DeFi investments. Market analysts predict that Solana could rise to $200 and above.
Solana gained 25% in value last week, exceeding the $170 level, and this performance is expected to continue until the end of the week. According to Santiment's on-chain data, Solana's price has increased by 33% in the last few days, attracting the attention of investors. However, given that FOMO is not yet evident among SOL investors, the market could potentially continue to grow.
Solana breaking the $175 resistance could pave the way for $200 and above targets. ETF speculation and growth in Solana's DeFi ecosystem are among the drivers of this rally. According to DeFiLlama data, Solana's Total Value Locked (TVL) in DeFi has reached $5.10 billion, indicating that the project is a major player in the DeFi space.
Recent ETF speculation has pushed Solana's price even higher, creating a promising bull pattern. Once the $175 resistance is breached, Solana is projected to enter a long-term uptrend and even move as high as $1,400 — implying a potential upside of 600% from current levels. These expectations are supported by market conditions and structural factors reinforced by the growing interest in blockchain ETFs.
In terms of development initiatives, the Solana Foundation announced a grant program providing up to $400,000 in funding for developers working on SOL Actions and Blinks Tooling, aiming to foster innovations that will contribute to the long-term growth and adaptation of the ecosystem.
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