04-12-2025, 12:25 PM
Why is Solana (SOL) price up today?
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDkvMDE5MWVhNGEtZWU0My03NTk1LTliZjItOTUzOTgyODFlYzJj.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDkvMDE5MWVhNGEtZWU0My03NTk1LTliZjItOTUzOTgyODFlYzJj.jpg" alt="Why is Solana (SOL) price up today?"></p><p>Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="null">SOL</a>) price is outperforming the crypto market on April 11, up 7.45% over the last 24 hours to trade at $121.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-8176-764e-b912-2369ac51c00b" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>SOL/USD daily chart. Source: Cointelegraph/</em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/ESY5CIyU/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/ESY5CIyU/"><em>TradingView</em></a></p></figcaption></figure><p>Let’s take a closer look at the factors behind Solana’s rally today.</p><h2>Renewed SOL ETF approval optimism</h2><p>Solana price appears to be benefitting from a broader market bounce across the entire cryptocurrency market and renewed optimism surrounding a potential Solana ETF approval in the US following Paul Atkins’ <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/paul-atkins-us-senate-confirms-sec-chair-nomination" rel="null" target="null" text="null" title="null">appointment as SEC chair</a>. Atkins, known for his crypto-friendly stance, has sparked speculation that altcoin ETFs, including Solana, could face a smoother path to approval. </p><p>The <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/van-eck-research-head-tips-2025-solana-etf-highly-likely#:~:text=1%2C%20cryptocurrency%20prediction%20platform%20Polymarket,Polymarket's%20forecast%20as%20%E2%80%9Cunderpriced.%E2%80%9D" rel="" target="_self" text="null" title="https://cointelegraph.com/news/van-eck-research-head-tips-2025-solana-etf-highly-likely#:~:text=1%2C%20cryptocurrency%20prediction%20platform%20Polymarket,Polymarket's%20forecast%20as%20%E2%80%9Cunderpriced.%E2%80%9D">betting odds</a> for a SOL ETF approval in 2025 now <a data-ct-non-breakable="null" href="https://polymarket.com/event/solana-etf-approved-in-2025?tid=1744383967413" rel="null" target="null" text="null" title="null">stand</a> at 76% on Polymarket. Over the past three months, the probability of approval has swung 11% in favor of the bulls, which was around 65% on Jan. 4.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-85fb-77e2-812a-afafa7e1a544" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>SOL ETF approval odds on Polymarket. Source: Polymarket</em></p></figcaption></figure><p>Several major asset managers have submitted applications for a <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/what-is-a-solana-etf" rel="null" target="null" text="null" title="null">Solana ETF</a>, including <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/vaneck-solana-etf-filing-united-states" rel="null" target="null" text="null" title="null">VanEck</a>, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/grayscale-files-spot-solana-etf-sec" rel="null" target="null" text="null" title="null">Grayscale</a>, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/21shares-spot-solana-etf-sec" rel="null" target="null" text="null" title="null">21Shares</a>, Bitwise, and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/canary-capital-files-spot-solana-etf" rel="null" target="null" text="null" title="null">Canary Capital</a>.</p><p>Market participants believe such an offering could <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solana-futures-etf-launch-spot-etf-expected" rel="null" target="null" text="null" title="null">attract new capital</a> and enhance liquidity in SOL trading. </p><h2>Margin short liquidations push SOL price higher</h2><p>Rising liquidations in Solana’s derivatives market also played a role in today’s rally, according to <a data-ct-non-breakable="null" href="https://www.coinglass.com/currencies/XRP" rel="null" target="null" text="null" title="null">data</a> from CoinGlass. The crypto futures market witnessed the liquidation of over $226 million worth of leverage positions in the last 24 hours, with $152.4 million being short liquidations.</p><p>Over $9.3 million in short SOL positions were liquidated against $2.1 million in long liquidations over the same period. </p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-8b10-704a-a736-131ffab9b917" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>Total crypto liquidations. Source: CoinGlass</em></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/fartcoin-rallies-104-in-a-week-will-solana-sol-price-catch-up" rel="null" target="null" text="null" title="null"><em><strong>Fartcoin rallies 104% in a week — Will Solana (SOL) price catch up?</strong></em></a></p><h2>Solana’s RSI shows a bullish divergence</h2><p>On SOL’s daily chart, there is a bullish divergence with the daily RSI which preceded today’s price increase.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-94b0-7f31-8de5-e94ae7590b7e" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>SOL/USD daily chart. Source: </em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/49dmSC6l/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/49dmSC6l/"><em>TradingView</em></a></p></figcaption></figure><p>The bullish divergence could be a hint that the bulls are gaining control, and if the trend holds, SOL price could rally toward the 50-day SMA above $130 in the short term.</p><p class="post-content__disclaimer" type="">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/why-is-so...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDkvMDE5MWVhNGEtZWU0My03NTk1LTliZjItOTUzOTgyODFlYzJj.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDkvMDE5MWVhNGEtZWU0My03NTk1LTliZjItOTUzOTgyODFlYzJj.jpg" alt="Why is Solana (SOL) price up today?"></p><p>Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="null">SOL</a>) price is outperforming the crypto market on April 11, up 7.45% over the last 24 hours to trade at $121.<figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-8176-764e-b912-2369ac51c00b" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>SOL/USD daily chart. Source: Cointelegraph/</em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/ESY5CIyU/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/ESY5CIyU/"><em>TradingView</em></a></p></figcaption></figure><p>Let’s take a closer look at the factors behind Solana’s rally today.</p><h2>Renewed SOL ETF approval optimism</h2><p>Solana price appears to be benefitting from a broader market bounce across the entire cryptocurrency market and renewed optimism surrounding a potential Solana ETF approval in the US following Paul Atkins’ <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/paul-atkins-us-senate-confirms-sec-chair-nomination" rel="null" target="null" text="null" title="null">appointment as SEC chair</a>. Atkins, known for his crypto-friendly stance, has sparked speculation that altcoin ETFs, including Solana, could face a smoother path to approval. </p><p>The <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/van-eck-research-head-tips-2025-solana-etf-highly-likely#:~:text=1%2C%20cryptocurrency%20prediction%20platform%20Polymarket,Polymarket's%20forecast%20as%20%E2%80%9Cunderpriced.%E2%80%9D" rel="" target="_self" text="null" title="https://cointelegraph.com/news/van-eck-research-head-tips-2025-solana-etf-highly-likely#:~:text=1%2C%20cryptocurrency%20prediction%20platform%20Polymarket,Polymarket's%20forecast%20as%20%E2%80%9Cunderpriced.%E2%80%9D">betting odds</a> for a SOL ETF approval in 2025 now <a data-ct-non-breakable="null" href="https://polymarket.com/event/solana-etf-approved-in-2025?tid=1744383967413" rel="null" target="null" text="null" title="null">stand</a> at 76% on Polymarket. Over the past three months, the probability of approval has swung 11% in favor of the bulls, which was around 65% on Jan. 4.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-85fb-77e2-812a-afafa7e1a544" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>SOL ETF approval odds on Polymarket. Source: Polymarket</em></p></figcaption></figure><p>Several major asset managers have submitted applications for a <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/what-is-a-solana-etf" rel="null" target="null" text="null" title="null">Solana ETF</a>, including <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/vaneck-solana-etf-filing-united-states" rel="null" target="null" text="null" title="null">VanEck</a>, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/grayscale-files-spot-solana-etf-sec" rel="null" target="null" text="null" title="null">Grayscale</a>, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/21shares-spot-solana-etf-sec" rel="null" target="null" text="null" title="null">21Shares</a>, Bitwise, and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/canary-capital-files-spot-solana-etf" rel="null" target="null" text="null" title="null">Canary Capital</a>.</p><p>Market participants believe such an offering could <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solana-futures-etf-launch-spot-etf-expected" rel="null" target="null" text="null" title="null">attract new capital</a> and enhance liquidity in SOL trading. </p><h2>Margin short liquidations push SOL price higher</h2><p>Rising liquidations in Solana’s derivatives market also played a role in today’s rally, according to <a data-ct-non-breakable="null" href="https://www.coinglass.com/currencies/XRP" rel="null" target="null" text="null" title="null">data</a> from CoinGlass. The crypto futures market witnessed the liquidation of over $226 million worth of leverage positions in the last 24 hours, with $152.4 million being short liquidations.</p><p>Over $9.3 million in short SOL positions were liquidated against $2.1 million in long liquidations over the same period. </p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-8b10-704a-a736-131ffab9b917" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>Total crypto liquidations. Source: CoinGlass</em></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/fartcoin-rallies-104-in-a-week-will-solana-sol-price-catch-up" rel="null" target="null" text="null" title="null"><em><strong>Fartcoin rallies 104% in a week — Will Solana (SOL) price catch up?</strong></em></a></p><h2>Solana’s RSI shows a bullish divergence</h2><p>On SOL’s daily chart, there is a bullish divergence with the daily RSI which preceded today’s price increase.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019625ae-94b0-7f31-8de5-e94ae7590b7e" title="" alt="Why is Solana (SOL) price up today?"><figcaption style="text-align: center;"><p><em>SOL/USD daily chart. Source: </em><a data-ct-non-breakable="null" href="https://www.tradingview.com/x/49dmSC6l/" rel="null" target="null" text="null" title="https://www.tradingview.com/x/49dmSC6l/"><em>TradingView</em></a></p></figcaption></figure><p>The bullish divergence could be a hint that the bulls are gaining control, and if the trend holds, SOL price could rally toward the 50-day SMA above $130 in the short term.</p><p class="post-content__disclaimer" type="">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.</p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/why-is-so...er_inbound