Finance

Can Solana’s ETF Launch in Hong Kong Ignite a Rally Above $200? Analysts Weigh In

Solana aims to reclaim $200 with a Hong Kong ETF launch, potentially breaking its $180-$210 range.

byAndres Castro

October 27, 2025, 3:10 PM

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Executive Summary

Solana (SOL) is making a significant push to reclaim the $200 resistance level following a market sell-off, having recovered over 60% of its losses.

The world’s first Solana Exchange-Traded Fund (ETF) is set to launch in Hong Kong on October 27, 2025, a development expected to inject crucial market liquidity.

Solana’s robust network performance, with no outages in the past 21 months, and current technical analysis suggest a potential for a defining breakout if the $200 resistance is decisively reclaimed.

The Story So Far

Solana (SOL) is attempting to reclaim the critical $200 resistance level after a recent market sell-off, with its recovery efforts significantly bolstered by the imminent launch of the world’s first Solana Exchange-Traded Fund (ETF) in Hong Kong on October 27, 2025, a development expected to inject crucial liquidity. This push is further supported by the network’s robust operational stability, having experienced no outages over the past 21 months, which maintains investor confidence.

Why This Matters

The imminent launch of the world’s first Solana Exchange-Traded Fund (ETF) in Hong Kong on October 27, 2025, is a pivotal development for Solana (SOL). This ETF is anticipated to inject crucial liquidity into the market, which could help SOL decisively reclaim the $200 resistance level, break out of its current trading range, and potentially pave the way for new all-time highs, signaling increased institutional interest and mainstream acceptance for the cryptocurrency.

Who Thinks What?

Analysts believe Solana’s ability to decisively reclaim the $200 resistance level is crucial for propelling it towards a new all-time high.

Market observers anticipate the imminent launch of the Solana Exchange-Traded Fund (ETF) in Hong Kong will inject significant liquidity and provide bullish sentiment for the cryptocurrency.

Solana bulls, as indicated by market movements, have demonstrated a strong recovery by reclaiming over 60% of recent losses and are hoping for an upward movement in the daily Relative Strength Index (RSI).

Solana (SOL) is making a significant push to reclaim the critical $200 resistance level following a recent market sell-off, with analysts closely watching its performance. This renewed momentum coincides with the imminent launch of the world’s first Solana Exchange-Traded Fund (ETF) in Hong Kong, set to begin trading on October 27, 2025, a development anticipated to inject crucial liquidity into the market.

Market Response and Price Targets

Following a substantial market sell-off, SOL has demonstrated a strong recovery, reclaiming over 60% of its losses and leaving a notable long wick below its recent lows. The analysis suggests that a decisive break and reclaim of the $200 level could be the catalyst needed to propel Solana towards a new all-time high (ATH) run.

Fundamentally, Solana’s network performance appears robust, having recorded no outages over the past 21 months. This operational stability is considered a significant factor supporting its underlying value and investor confidence.

Technical Analysis Overview

On the weekly timeframe, SOL has been observed in a two-year sideways accumulation phase, trading within a broad range of $120 to $260. Despite this volatility, the overarching trend remains bullish, with the price positioned above all key Moving Averages. The Relative Strength Index (RSI) is currently neutral, indicating potential for a defining breakout.

Daily Chart Insights

The daily chart reveals that the MA200 has served as a recent support level, while the MA100 is currently acting as resistance. The MA50, positioned above, needs to be reclaimed to reinforce a bullish structure. The RSI on the daily chart has been bottoming out over the past month, with bulls hoping for an upward movement towards strength.

Currently, SOL’s price is consolidating within a range of $175 and $212, which aligns with the MA200 and MA50. Analysts note a rejection from a bearish order block after a market structure break (MSB), which could present a resistance area if the price pushes above $200.

4-Hour Chart Perspective

Examining the 4-hour timeframe, SOL has been ranging within an 18% zone for nearly 20 days, offering multiple entry opportunities at the $180 support level. A bullish engulfing candle on October 21st has instilled some optimism for further upside. However, the RSI on this timeframe is currently high, suggesting a potential need for a reset before a sustained upward move.

Outlook

Solana’s immediate trajectory is largely dependent on its ability to decisively reclaim the $200 resistance level, supported by favorable Relative Strength Index readings on the daily and weekly charts. The anticipated launch of the Solana ETF in Hong Kong is viewed as a critical factor that could provide the necessary liquidity and bullish sentiment to break Solana out of its current $180-$210 trading range.