Solana price approached a key resistance zone on March 23, as fresh institutional moves raised expectations for a spot exchange-traded fund (ETF).
Fidelity Investments, which oversees $15.1 trillion in assets, filed to register a Solana fund in Delaware, a step seen as a precursor to a potential Solana ETF.
The filing, listed under #10138042, mirrors Fidelity’s earlier strategy with Bitcoin and Ethereum. If approved, it could mark a pivotal step in expanding institutional access to Solana.
Fidelity Adds Pressure in Solana ETF Race
The Solana price prediction narrative gained traction after Fidelity joined a growing list of asset managers seeking exposure to the token.
Delaware’s friendly legal environment has become a gateway for firms pursuing ETF registration.
Bitwise already secured its Solana ETF trust, while Franklin Templeton followed with its own Franklin Solana Trust. Both entities later submitted registrations with the U.S. Securities and Exchange Commission (SEC).
The regulatory environment has eased slightly under the Trump administration, following a stricter stance by the Biden-era SEC during Operation Chokepoint. However, all Solana ETF applications remain under review.
Solana Price Prediction Hinges on $200 Breakout
Solana price traded around $188 on March 23. According to Ali, an analyst at @ali_charts, a breakout above $200 would confirm a textbook cup-and-handle formation.
Ali posted on X,
“If, only if, #Solana $SOL can break above $200, it would confirm a textbook cup-and-handle.”
Shorter-term resistance also sits at $137. Ted, a trader at @TedPillows, noted that Solana has remained in a narrow range, typically seen as an accumulation zone before a breakout. Ted wrote,
“During a bull run, this is often the time of accumulation.”
ETF Optimism Meets Regulatory Roadblocks
Despite speculation on social media, including an unverified claim by Leviathan that a Solana ETF is already approved, no official confirmation has emerged.
The SEC has yet to approve any ETF tied to an alternative digital asset outside Bitcoin and Ethereum.
Even so, Solana’s expanding role in decentralized finance (DeFi) and digital collectables (NFTs) continues to attract institutional interest. A successful ETF could bring more liquidity and visibility to SOL, which remains far behind Bitcoin and Ethereum in market share.
Until a decision arrives, Solana’s price prediction models will continue to depend on technical patterns and regulatory news.
