Solana ETF Odds Hit 91% as SOL Price Targets $335 in Breakout Setup

Solana (SOL-USD) is charging forward. Onchain activity is exploding, ETF speculation is increased, and traders are positioning for a breakout that could send SOL to $335.

SOL Futures Open Interest Nears Record Highs

Solana’s price has jumped 4.3% over the last 24 hours to $165, still below its January peak of $294. But what’s happening beneath the surface is really interesting. SOL’s open interest for futures hit $7.54 billion on Wednesday—a 12% gain in 24 hours and just 12% shy of January’s all-time high. That kind of leveraged appetite, especially from institutions, points to confidence—and potentially explosive moves.

Solana Onchain Activity Signals Real Demand for SOL

It’s not just derivatives doing the heavy lifting. Solana’s decentralized finance ecosystem is booming again. Total value locked (TVL) hit 56.8 million SOL this month—roughly $9.1 billion—the highest since June 2022. That jump isn’t just symbolic; it’s rooted in actual users.

In fact, active Solana addresses surged 38.5% in a single day to 2.7 million. The top five Solana DApps are seeing wallet activity climb between 77% and 300%, suggesting the whole ecosystem is heating up.

Solana ETF Approval Odds Soar Past 90%

The real fuel for long-term growth may come from Washington. Polymarket traders now place a 91% chance on a 2025 spot Solana ETF approval. That’s not just optimism—it reflects filings from Grayscale, Bitwise, 21Shares, and VanEck, all gunning to launch regulated SOL funds. Bloomberg’s Eric Balchunas believes Solana may be one of the SEC’s earliest approvals, calling it the likely leader of what he dubs “Altcoin ETF Summer.”

SOL Bull Flag Chart Hints at $335 Breakout

Technicals are lining up. On the weekly chart, SOL is forming a textbook bull flag. If it breaks through the upper resistance, the pattern implies a 103% surge from current levels, taking the price up to $335. The weekly RSI just jumped to 51 from 36 in March—clear bullish momentum. But the bulls still need to flip $190 into support to sustain the climb.

At the time of writing, Solana is sitting at $166.43.