SOL price outlook: What’s next after the crypto liquidation event?

What just happened

Crypto whipsawed over the weekend after U.S. President Donald Trump threatened 100% tariffs on Chinese imports, echoing April’s trade-war jitters. 

Bitcoin and altcoins dovetailed on the news, then rebounded as broader markets stabilized on more conciliatory remarks Sunday night. Macro volatility remains a headwind, but dip-buyers have stepped in to stem further slides. 

For Solana (SOL) specifically, the rebound has been swift. It first dropped sharply from $222 to about $183 following the news, and recovered to the high-$190s by Monday, putting the $200 handle back in play. 

On Tuesday, China responded with sanctions on U.S. units of a South Korean shipping company and halted purchases of U.S.-produced soybeans. It pushed prices back down temporarily, but SOL managed to cross the $200 checkpoint by Wednesday. 

Key levels: $200 first, then $220; support at $180 and $173

Technically, the $200 to $205 range is the immediate pivot. A decisive daily close above it opens a path toward $215 to $220, an area that capped rallies early last week. Failure there keeps SOL in a range, with first support at $180, then $173 to $175 from Friday’s flush. These zones line up with last week’s highs and lows on daily charts. 

For traders, the risk-reward skews around whether SOL can convert $200 into support. Holding above that mark may show buyers are back in control.. Repeated rejections suggest SOL could stay stuck in its current range until a new catalyst emerges.

Spot Solana (SOL) ETF watch: Timeline, filings, and what approvals could do

The spot Solana ETF docket is crowded (VanEck, Bitwise, 21Shares and others), with the next ‘final’ deadlines circling October 16, 2025 after U.S. Securities and Exchange Commission (SEC) extensions, though the U.S. government shutdown may result in further delay . 

Issuers have updated Form S-1s – including staking mechanics in some filings – indicating ongoing dialogue with the regulator. A green light could be liquidity-positive; delays keep the market headline-sensitive.

Regulatory context also improved in September as the SEC approved generic listing standards for spot crypto ETFs, potentially shortening launch timelines for certain crypto ETFs.

Solana is one of the leading altcoins that is widely anticipated by traders and analysts to receive a spot ETF approval, among others like XRP, Dogecoin, Litecoin and more.

On-chain pulse: Activity and liquidity backing SOL fundamentals

Under the hood, Solana continues to show elevated activity, with strong DEX volumes, transactions, and daily active addresses in recent reads. In the past week, Solana led with more than 14 million active addresses, ahead of other major chains, and DEX volume topped $1.7 billion within a 24-hour period to exceed Ethereum’s. 

This paints a constructive backdrop for any breakout attempts. 

Messari’s latest Solana report and DefiLlama’s chain dashboard also point to healthy usage and fee generation, even through the macro chop. 

Sustained user count and volume momentum can help rallies ‘stick’ once technical levels fall, while a sudden slide in activity often foreshadows fakeouts around big round numbers like $200. DEX flows and stablecoin liquidity on Solana are metrics to watch. 

Solana (SOL) price near-term outlook: Scenarios to watch

• Bullish breakout: Daily close above $200 to $205 with rising spot volumes; upside probes $215 to $220, then $230. ETF headlines or a softer macro tape would reinforce the move.
• Range persists: Rejections at $200 while macro stays noisy; $180 to $195 bounce continues until ETF clarity or macro data provides direction.
• Bearish fade: A break below $180 on a risk-off turn pushes toward $173 to $175; below there, sentiment sours into the ETF window. Macro triggers include renewed tariff escalation or a broad risk selloff.

If you’re interested in the latest price movements of SOL, you can stay up to date on the Crypto.com price page or the App, which supports more than 400 cryptocurrencies including Solana. Users on the App can purchase SOL is a few simple steps:

1. Download the Crypto.com App, available on the Apple App Store and Google Play. 
2. Follow the on-screen instructions to complete the sign-up and identity verification process. 
3. Fund the account via bank transfer (this may take one to three days to clear) or through instant methods like prepaid/credit card or Apple Pay. The Crypto.com App supports more than 20 fiat currencies, including USD, EUR, and GBP.
4. Once the account is funded, users can purchase SOL and other cryptocurrencies directly through the App.

Important information: ​​This informational content is written by Crypto.com and should not be considered as an investment recommendation or advice. Trading cryptocurrencies carries risks, such as price volatility and market risks. Before deciding to trade cryptocurrencies, consider your risk appetite.