SEC Delays Decision on Fidelity’s Solana ETF Amid Bullish $192 Target

Planck

- SEC initiates public comment on Fidelity’s Solana ETF proposal.
- SOL price patterns hint at potential breakout toward $192 or dip below $129.
On July 8, 2025, Cointelegraph reported that the U.S. Securities and Exchange Commission (SEC) postponed its decision on Fidelity Investments' spot Solana ETF. The regulatory agency also initiated a public comment period, allowing 21 days for initial feedback and 35 days for rebuttals. In addition, the SEC requested that all potential issuers of spot Solana ETFs submit amended S-1 registration documents by the end of July.
Bloomberg ETF analyst James Seyffart noted the delay was expected, describing the SEC’s ongoing correspondence with issuers as possibly constructive. As a result, market observers speculate that these developments may signal progress toward approval before the final deadline of October 10.
Solana’s price action reflects the broader market’s anticipation, as technical patterns suggest the potential for significant volatility. On the bearish side, a descending triangle points to a downside target of $129 if the $144 support level breaks. Conversely, a bullish inverse head-and-shoulders pattern could push SOL to $192 if the price overcomes the $159 resistance level. For now, bulls are defending the 20-day exponential moving average near $149, which remains a crucial point during the ongoing consolidation phase.
According to CoinMarketCap, as of 20:08 UTC on July 8, Solana (SOL) was trading at $151.54, with its 24-hour trading volume up 2.15%. Analysts are closely monitoring price behavior, and traders are on edge as October approaches.
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