Solana SOL/USD is pushing higher to start the week, extending a rebound from early April as momentum builds behind renewed ETF optimism and easing macro pressures.

Price Action

At the time of writing, Solana is trading at $132.11, up 3.76% over the last 24 hours, according to CoinMarketCap. The token is up 27% over the past week and has erased most of its recent monthly losses, now down just 2.33% over the past 30 days.

Solana ETF Bets Hit 81% Amid Market Shift

The rally follows a wave of renewed speculation around a Solana ETF, fueled by Paul Atkins' appointment as SEC chair. Atkins, a former SEC commissioner known for being crypto-friendly, has sparked hopes of regulatory tailwinds for altcoin-based exchange-traded products.

On Polymarket, traders are assigning an 81% probability that a Solana ETF will be approved by the end of 2025, up 7% since last week. That's a major increase from the 65% odds seen in early January, as shown in the platform's prediction markets.

Major firms including VanEck, Bitwise, 21Shares, Grayscale, and Canary Capital have submitted preliminary filings for Solana-based ETFs, according to Cointelegraph, and investor appetite appears to be accelerating.

Technical Setup Turns Bullish

According to analysts cited by Cointelegraph, SOL's recent breakout coincides with a bullish divergence in its daily RSI, indicating building upward pressure. Solana has now reclaimed its 50-day simple moving average (SMA)—currently hovering just above $132—and a sustained move higher could open the door for a retest of the $150–$153 range.

On-chain analytics firm Santiment also flagged Solana as one of the most discussed assets in crypto markets this weekend, with chatter focused on trading setups, ETF speculation, and macro catalysts.

Broader Market Context: Tariff Relief Supports Risk Assets

Solana's Monday rally aligns with improving sentiment across both crypto and equities following Friday's tariff reprieve from the Trump administration. 

While initial reports suggested that smartphones and electronics were spared from sweeping 125% levies, President Trump later walked back the announcement—saying that the products are being moved into a separate "tariff bucket" for national security review.

Even so, risk assets surged on the initial announcement, with U.S. stock futures climbing and gold hitting all-time highs above $3,200 per ounce. The backdrop has provided a cushion for crypto markets broadly, with Bitcoin back above $85,000 and Ethereum hovering near $3,400.

The Bottom Line

Solana's rally appears to be riding multiple tailwinds: rising ETF speculation, short-seller liquidations, bullish technicals, and improving macro sentiment. If momentum holds, SOL could be well-positioned to reclaim its March highs—particularly if ETF narratives continue to gain traction in the weeks ahead.