Solana (SOL) may be cooling on the charts, but analysts say now is the time to pay attention.
SOL is showing the largest increase among the top 10 cryptocurrencies today, rising about 7%, second only to Doge.
Signs of Solana Summer Rally
According to CryptoQuant's bubble map, Solana's spot and futures trading volume has decreased in recent weeks.
At first, it may seem like interest is declining. However, some experts argue that this slowdown could indicate the calm before the storm. One such expert, CryptoQuant analyst Burak Kesmeci, explained this change as a potential bullish adjustment.
"We are observing a cooling trend in Solana's on-chain indicators... This slowdown could be an early-stage opportunity โ especially when it coincides with upcoming catalysts," Kesmeci wrote.
The analyst suggests this could come at the end of a long wait for a spot Solana ETF. Bloomberg ETF analyst James Seyffart recently hinted at increasing regulatory interest in such products.
Conversations around the nuances of staking solana in ETFs is getting underway between SEC and hopeful Solana ETF issuers ๐ https://t.co/ULe881UjYN
โ James Seyffart (@JSeyff) June 10, 2025
Many believe this financial product could trigger a wave of institutional capital, potentially driving a Solana price surge.
Solana ETF Rumors, Technical Breakout... Further Rise?
Adding to the momentum is the possibility of market breakout. Crypto analyst Lunix highlighted a dramatic "god candle" on Solana's price chart, pushing Solana's price to $164.73.
what a candle ๐คฏ
โ Lunix (@SolLunix) June 10, 2025
solana summer is real pic.twitter.com/oD7nja041Z
Currently, Solana is trading at $166.23, rising more than 5% in the last 24 hours.
As the "Alt Coin Summer" trend grows, prospects for realization in Solana are increasing.
Rumors continue to swirl around the possibility of a Solana spot ETF approval. According to BeInCrypto, after activities from companies like 21Shares and Grayscale, the SEC may review it in July.
Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7
โ Eric Balchunas (@EricBalchunas) June 10, 2025
Analysts point out that even rumors about these products could promote price discovery, like Bitcoin and Ethereum. In the short term, Solana may seem quiet, but analysts say low trading volume doesn't mean low potential.
"Low volume โ ETF rumors โ Explosive movement," Kesmeci emphasized.
Technical indicators are turning bullish, and institutions are quietly positioning themselves, which could set the stage for a Solana price rise.
Get ready for altcoin ETFs to be approved this summer. Solana will likely be the first, according to Bloomberg ETF analyst Eric Balchunas.
โ Christopher.Cet๐คSolflare๐ (@Kristofer_Sol_) June 11, 2025
Alt season coming this summer? pic.twitter.com/3GwbtMM9YL
