How High Can Solana Price Go in November After SOL ETF Approval?

Solana (SOL) is flashing strong upside potential as the token rebounds from key technical support levels, fueled by macro optimism, improving liquidity conditions, and the recent approval of the first US spot Solana ETF.

SOL Rebounds From Channel Support

On the 3-day chart, Solana has bounced decisively from the lower trendline of its prevailing ascending parallel channel, suggesting renewed buying interest at structural support.

The rebound aligns with the 0.618 Fibonacci retracement level near $200, a zone that historically acts as a pivot during strong uptrends.

SOL’s 20-day EMA ($203) and 50-day EMA ($186) are beginning to converge, further reinforcing the area as a dynamic support confluence. This setup mirrors earlier rebounds in April and July 2025, which led to 63% and 72% rallies, respectively.

If history rhymes, SOL could now eye a similar 42–45% rally toward $260, coinciding with the channel’s upper boundary and the 0.786 Fib level ($227–$260).

Solana’s relative strength index (RSI) hovers around 51, signaling neutral momentum and ample room for further upside before overbought conditions emerge.

Macro Tailwinds Amplify Solana’s Bullish Case

The broader macro environment is turning increasingly favorable for high-beta crypto assets like Solana.

Optimism over a potential US–China trade deal, rising expectations of a Federal Reserve rate cut, and renewed institutional interest via newly approved Solana and Litecoin ETFs are reigniting risk appetite across markets.

Lower interest rates reduce the opportunity cost of holding crypto, while ETF approval provides a regulatory green light for institutional players to gain exposure without direct custody risk.

Together, these forces could trigger a capital rotation from Bitcoin (BTC) and Ether (ETH)—both up significantly year-to-date—toward undervalued large-cap altcoins like Solana.

75% of SOL Holders Are in Profit

On-chain data from Glassnode shows that nearly 75% of all Solana addresses are profitable, reflecting strong holder confidence and a healthy market structure.

Such profitability levels have historically preceded major rallies as conviction rises and selling pressure diminishes. This suggests that most investors are sitting on unrealized gains yet remain positioned for further upside.