Solana Trades at $184 Amid SEC ETF Decision Delay

Solana (SOL) is attempting to reclaim a critical support level amid a market pullback, with analysts suggesting a breakout could lead to new highs.

Market Overview

Bitcoin (BTC) reached an all-time high of $124,000 and Ethereum (ETH) hit $4,788 before the market declined.
US macroeconomic signals and the decision not to purchase BTC for the Strategic Reserve contributed to the downturn.
Solana dropped 10% from an eight-month high of $209, testing the $190 support level after the SEC delayed decisions on several Solana ETFs to October 16, 2025.

Analyst Insights

James Seyffart noted that the SEC's delay is not necessarily negative and anticipates approval of standard spot SOL ETFs by mid-October.
Analyst Ali Martinez indicated this could be a final buying opportunity before a potential 100% price rally.
A six-month ascending triangle pattern targets a price of $360 upon breakout.
Wallets holding over 10,000 SOL tokens reached a new all-time high, with 5,224 wallets each holding approximately $2 million worth of SOL.

Currently, SOL is trading at $184.9, reflecting a decline of 4.7% in the daily timeframe. Analysts suggest maintaining levels above $180 will be crucial for future performance.