Key Notes
- SEC approved in-kind redemptions for crypto ETFs on July 29, reducing tax friction and boosting institutional demand significantly.
- Total staked SOL increased 1% to 401.9 million tokens within 24 hours, suggesting reduced selling pressure from holders.
- Technical analysis shows SOL consolidating near $178 Bollinger midline with potential rally toward $202 if defended successfully.
Solana SOL $176.2 24h volatility: 2.6% Market cap: $94.76 B Vol. 24h: $6.28 B price hovered near $180 on Wednesday, July 30, slipping from last week’s peak of $200 as markets turned cautious ahead of the US Federal Reserve’s next interest rate guidance . Although the broader crypto market remained tepid on Wednesday, Solana price has held relatively firm compared to peers, largely due to positive institutional flows and optimism around regulatory clarity.
On July 29, the US SEC approved “in-kind” redemptions for crypto ETFs, allowing fund managers to swap crypto for ETF shares directly. This decision addresses prior liquidity concerns and reduces capital gains tax friction for investors, increasing demand for crypto-based ETFs.
Solana Staking Deposits, July 30, 2025 | Source: StakingRewards.com
In response, Solana investors staked 4.1 million SOL in a single day. Data from StakingRewards.com confirm that total staked SOL rose from 397.8 million on July 29 to 401.9 million SOL at press time, a 1% increase within 24 hours. This suggests that long-term holders are reacting positively to the ETF rule change, reducing short-term sell pressure by locking up tokens.
The sudden increase in staking temporarily cuts down circulating supply on exchanges, often a leading indicator of price rebounds during bullish macro shifts. If staking continues to outpace withdrawals, SOL could reclaim higher levels as demand picks up on lower float.
SOL Price Prediction: Will $200 Flip to Support Again?
From a technical perspective, Solana has been consolidating within a tightening Bollinger Band range after peaking near $210 earlier in July. Currently priced at $178, SOL trades near the 20-day Bollinger average of $178.71, a critical midline level. If bulls can defend this level, upside momentum could resume.
A bounce from here, especially amid continued staking growth and ETF-driven demand, could trigger a rally toward $202.37, the upper band resistance.
If Solana clears $200 again with strong volume, a new bullish leg toward $220 becomes likely in August.
Solana Price Prediction | SOLUSD 24H | TradingView
Conversely, the MACD indicator is turning bearish with a bearish crossover showing that the MACD line at 7.00 has crossed below the signal line at 8.29, while the histogram flips red. A daily close below $175 would invalidate this setup and open risk toward $160.
With the MACD showing weak short-term demand, further corrections could test the next key support level at $155, which aligns with the lower Bollinger band.
