Solana’s Uptober Surge: Hidden Bullish Signal, ETF Frenzy & Bold $300+ Price Forecasts

SOL’s Wild October Ride: Solana’s price surged above $250 to multi-month highs in early October before a sharp pullback. It jumped ~9% to ~$227 in the first week of “Uptober” (its highest since January) ^[1], then plunged ~17% intraday on Oct. 10 to the low-$180s amid volatile profit-taking ^[2]. As of Oct. 10, SOL trades around $182 ^[3] – roughly flat on the week and still way up in 2025 overall.
Hidden Bullish Signal: Technical charts flashed a hidden bullish divergence – price made higher lows as RSI made lower lows – hinting the uptrend isn’t over ^[4] ^[5]. The last time Solana saw a similar setup (Apr–June), SOL rocketed ~63% in a month ^[6]. If SOL repeats that fractal, analysts say it could reach ~$312 by late October ^[7] ^[8], potentially even $349 thereafter ^[9]. On-chain data agree: short-term holder NUPL is ~0.11, signaling healthy profit-taking rather than a euphoric top ^[10]. (Prior local peaks came when NUPL hit ~0.20 ^[11].) In short, no signs of an overheated market yet, reinforcing the bullish thesis ^[12].
ETF Mania & $345 Target: Multiple spot Solana ETF applications (VanEck, Fidelity, Grayscale, etc.) faced SEC deadlines in early/mid-October ^[13]. Crypto pundits dubbed it a “big week for Solana,” with the final SEC decision due by Oct. 16 ^[14]. Approval is widely expected – Bloomberg’s ETF experts gave ~100% odds ^[15] and prediction markets >99% ^[16]. Analysts say a green light could unleash billions in institutional demand, accelerating SOL toward the $300–$350 range ^[17] ^[18]. Technical patterns already show two bullish “flag” formations pointing to price targets of ~$290 and ~$345 – roughly +25% and +50% upside respectively ^[19] ^[20]. One analyst even projected $346 in the next rally leg using an ascending channel model ^[21]. If ETFs are approved, it could “open a new chapter of institutional adoption” for Solana ^[22], cementing its status in mainstream portfolios.
Big Money Bets on SOL: Institutional interest in Solana has exploded. Public companies and funds now hold over 13 million SOL (>$3 billion worth) collectively ^[23]. In late September, tiny Nasdaq-listed Forward Industries reinvented itself as a “Solana treasury” firm – raising $1.65 B to buy 6.82 million SOL at ~$232 each ^[24]. Forward’s stock soared 400%+ in 2025, hitting $46 before settling around $25 by Oct. 6 ^[25], on enthusiasm for its bold bet. (This one company now holds >1.25% of all SOL and staked it for yield ^[26].) Another firm, Helius (rebranded “Solana Company”), acquired 2.2 million SOL (~$525 M) for its treasury ^[27] and plans to stake it for ~7% annual rewards ^[28]. Such moves exemplify surging institutional inflows – even if they carry risks (Forward now sits on ~$245 M in unrealized losses after SOL’s recent dip) ^[29].
Ecosystem Booming & Upgrades: Beyond price, Solana’s fundamentals are thriving. The network’s on-chain activity and DeFi usage have skyrocketed in 2025. Solana’s ecosystem generated about $2.85 billion in annualized revenue by October ^[30], outpacing rival chains’ growth. It hosts 1–3 million daily active addresses (roughly 3× early Ethereum’s user base) thanks to its ultra-low fees ^[31]. DeFi TVL on Solana exceeds $30 B, with over $100 B in DEX trading volume for three straight months ^[32]. Major projects are choosing Solana for scalability – e.g. fantasy sports giant Sorare is migrating 5 million NFT users to Solana by end of October, one of the largest consumer blockchain migrations ever ^[33]. Tokenization is also booming: Circle launched a $635 M tokenized U.S. Treasuries fund (USYC) on Solana, and Republic is tokenizing equity in Animoca Brands via Solana ^[34]. Meanwhile, core tech upgrades are imminent. The Alpenglow update will slash average transaction finality from ~12s to 0.15s ^[35], and Jump Crypto’s new Firedancer validator client aims to remove throughput limits for even higher performance ^[36]. Already, 22% of staked SOL uses the DoubleZero fiber-optic network for lightning-fast, reliable block propagation ^[37]. These advances bolster Solana’s scalability and address past concerns over outages, as the chain works to shed its former reliability stigma ^[38].
“New Wall Street” Hype: Solana’s rapid progress has even top investors buzzing. Bitwise CIO Matt Hougan says Solana’s ultra-fast throughput makes it “extraordinarily attractive” – dubbing it “the new Wall Street” of tokenized assets ^[39]. Galaxy Digital’s Mike Novogratz has proclaimed this the “season of SOL,” arguing Solana’s tech prowess plus anticipated ETF inflows could catalyze a major run ^[40]. With SOL now among the top 5–6 cryptos by market cap (near ~$120 B at ~$220 per coin) ^[41], it’s increasingly seen as a core network alongside Bitcoin and Ethereum in the multi-chain future. Bulls are even floating $400+ price targets long-term – some analysts predict Solana could surge “beyond $425” amid sustained momentum and adoption ^[42].
Outlook – Bright Yet Volatile: Going forward, Solana’s trajectory looks bullish but not without bumps. In the near term, traders are watching key levels: $218–$212 as strong support and ~$230 as immediate resistance ^[43]. SOL’s recent rebound above ~$226 has been accompanied by improving technicals – it reclaimed a key Fibonacci retracement at ~$229 and is holding above its 30-day average ^[44]. Momentum indicators like MACD and RSI show room for consolidation and a breakout attempt, with next targets in the $245–$250 zone if $230 is cleared ^[45]. A decisive close above $251 (the 0.618 Fib extension) would likely confirm the rally’s resumption, opening the path to $288 and a retest of the $293 all-time high ^[46]. From there, new highs toward $312 or higher come into play ^[47]. On the flip side, if an ETF decision disappoints or delays, SOL could see another pullback – dips below ~$213 and $190 would start to undermine the bullish thesis ^[48]. Notably, some on-chain trends warrant caution: daily transactions on Solana have fallen ~50% from their July peak (125M down to ~64M) ^[49], suggesting retail activity has cooled. One analyst said this reflects “rebalancing away from hype,” meaning Solana may not break out solo and could still “seek cues from Bitcoin’s direction” despite any ETF news ^[50] ^[51]. In other words, broader market sentiment remains important.
Bottom Line: Solana enters mid-October 2025 as one of crypto’s strongest narratives – a high-speed blockchain enjoying a surge of institutional validation, technical upgrades, and bullish market sentiment. Its price has been on a rollercoaster, but key indicators suggest the uptrend is intact ^[52] ^[53]. With a potential spot ETF approval looming (nearly certain by analysts’ estimates) ^[54], SOL could soon gain a new wave of buyers and challenge its record highs. Experts are already talking about Solana in the same breath as Wall Street, and if the optimists are right, we may be witnessing the early stages of another leg up in Solana’s epic 2025 rally – one that could propel prices toward $300, $350 or beyond in the coming weeks ^[55] ^[56]. As always in crypto, volatility is the norm, but for now the stars seem aligned in Solana’s favor. 🚀

Sources:

BeInCrypto – “Solana’s Hidden Bullish Signal Returns — Could a New All-Time High Be Imminent?” (Oct 9, 2025) ^[57] ^[58] ^[59] ^[60]
Binance News – “Solana ETF Approval Could Send SOL Price to $345, Analysts Say” (Oct 8, 2025) ^[61] ^[62]
Coinpedia – “Solana Price Rebounds Above $226, What’s Coming Next?” (Oct 9, 2025) ^[63] ^[64]
Tech Space 2.0 (TS2) – “Solana’s Uptober Rollercoaster: Record Rally, Wall Street Hype & Bold Price Forecasts” (Oct 11, 2025) ^[65] ^[66] ^[67]
Tech Space 2.0 (TS2) – “Solana’s Meteoric 2025 Surge: Uptober Rally, ‘New Wall Street’ Hype & Bold Forecasts” (Oct 5, 2025) ^[68]
Tech Space 2.0 (TS2) – “Forward Industries’ 500% Surge: Inside the $4B Solana Bet…” (Oct 7, 2025) ^[69] ^[70]
Decrypt – “Daily Transactions Fall Ahead of ETF Deadline” (Oct 10, 2025) ^[71] ^[72]

How to Prepare for the Coming Solana ETFs

References

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Mateusz Kaczmarek Latest posts

A technology and finance expert writing for TS2.tech. He analyzes developments in satellites, telecommunications, and artificial intelligence, with a focus on their impact on global markets. Author of industry reports and market commentary, often cited in tech and business media. Passionate about innovation and the digital economy.

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