Solana Price Surges to Record High Amidst Crypto Market Rally
The Solana price has made a significant leap, overcoming a major hurdle as the cryptocurrency market continues to rally, with upcoming stock exchange fund permits expected to propel it to new heights.
The Solana (SOL) token has reached a maximum of $226, its highest level since February 1 of this year, marking a strong rally with a 135% increase in April compared to its lowest level.
Upcoming Sol ETF Registrations and Alpine Glow Upgrade: Catalysts for Price Surge
The Solana price rise is attributed to the enthusiasm surrounding the upcoming interest rate reductions by the Federal Reserve, which has led to a rally in most cryptocurrencies.
The deadline for most Solana ETF registrations, including those from Bitwise and Canary, is approaching on October 16. The SEC’s decision to approve or reject these funds will significantly impact the Solana price. According to Polymarket data, there is over a 90% chance of these funds being approved before the end of the year.
The SEC’s approval of Ethereum (ETH) funds has already been seen, with total inflows exceeding $13 billion. This trend is expected to continue with Solana ETFs, as evidenced by the Rex Fospray Sol + Speak ETF, which attracted over $230 million in assets just two months after its introduction.
Alpine Glow Upgrade: A Potential Game-Changer for Solana
The upcoming Alpine Glow upgrade, scheduled for the first quarter of 2026, will replace Solana’s proof-of-history and towers with the consensus of Votor/Rotor. This upgrade is expected to increase Solana’s throughput from 65,000 transactions per second to 100,000, with final validity reduced to between 100 and 150 milliseconds.
Historically, cryptocurrencies have rallied before major upgrades, and Solana is expected to follow this trend. The upgrade’s potential to significantly improve Solana’s performance and scalability makes it a highly anticipated event in the cryptocurrency community.
Technical Analysis of Solana Price
The daily timeframe chart shows that Solana has been in a strong bullish rally in recent months, with a significant turnaround from $95 to $226. The coin has formed a golden cross pattern, while the average direction index has risen to 30, indicating a strong upward trend.
Sol -Diagram | Source: crypto.news
The path of least resistance for the coin is very optimistic, with the next important reference price being the all-time high of $295. With the upcoming Sol ETF registrations and Alpine Glow upgrade, Solana is poised to continue its rally and potentially reach new heights.
For more information on the Solana price and its potential catalysts, visit https://crypto.news/solana-price-clears-a-major-hurdle-and-these-2-catalysts-may-push-it-to-ath/
