Solana Price Set For New ATH Despite Exchange Deposits

Key Insights:

• Bullish sentiment grows as Solana price forms a bullish falling wedge pattern.
• Whale moves $221M SOL, signaling strategic positioning for growth.
• Solana ETF approval is expected in July, which could trigger a major price surge.

Solana price showed strong potential for a price surge, hinting at a new all-time high (ATH). Analysts remain optimistic despite the recent large deposit of SOL tokens to exchanges. Market dynamics suggest bullish momentum could overpower selling pressure.

This optimistic view is based on extensive whale movement, potential regulatory developments, and an increasingly bullish market sentiment.

Whale Activity and Solana Price Outlook

A whale transferred $221 Million worth of SOL tokens. Per Lookonchain, the whale has already deposited $63 Million SOL to Binance, Bybit, OKX, and Coinbase through FalconX. This typically raises eyebrows about a potential sell-off.

However, analysts indicate that this does not necessarily mean it is bearish. Instead, it can be a component of strategic positioning before a projected bull run.

Solana price must maintain support above crucial levels, particularly at $165, to sustain its bullish momentum. Overcoming this hurdle is essential for further price gains and long-term stability.

Maintaining above this level may open the doors to a powerful up move. Otherwise, it could retrace to the lower support levels at $148-$150.

Solana Price to Face Potential Bull Rally: A Breakout on the Horizon?

Cryptocurrency market observers are looking at a 5X to 10X bull rally for Solana in the upcoming months. The number of users steadily increases, signaling growing retail interest in Solana.

Adoption is rising as more investors engage with the network. Historically, this trend has been a strong factor in driving prices higher.

Solana price has technically formed a falling wedge pattern since April 2025, gaining approximately 50% since the breakout levels. The recent correction at the $165,170 level is regarded as a regular rest before a potential significant bullish breakout.

Solana may test resistance at $183 and $195 if bullish momentum persists. Analysts believe further gains could push the price higher.

In the short term, SOL could even reach $210 or beyond. According to crypto analyst Ali, breaking above $200 could catalyze a major 5X to 10X bull run.

Solana ETF approval on track for July

The approval of Solana ETFs by the U.S. SEC is one of the biggest triggers of the rise in Solana price. Issuers have asked the SEC to file amended S-1 forms by mid-June. This indicated that the regulatory review process is making headway.

If everything goes as planned, Solana ETFs could receive the green light in three to five weeks, potentially as early as July 2025. This would be a significant step, allowing institutional investors to gain regulated access to SOL.

According to Bloomberg ETF analyst James Seyffart, the probability of the Solana ETF being approved in 2025 is 90 percent. The SEC’s openness to staking in ETFs adds to their appeal. Investors could earn rewards by holding these financial products.

This mechanism would enhance engagement and incentivize participation. Ultimately, it could benefit the Solana network’s growth and adoption.

Market Response and Prospects

ETF development announcements have pushed the Solana price up by around 4%. This surge brings SOL close to the $165 mark at the time of this report.

The growing presence of whales and increasing wallet activity signal a strong Solana revival. The potential approval of ETFs adds further momentum to this bullish outlook.

Under these conditions, a 5X to 10X rally could be possible. Such a surge may drive SOL to new highs, attracting more institutional and retail investors.

The anticipated approval of a Solana ETF in July could spark a major bull run. This event may significantly boost SOL’s value in the coming months.