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The Solana price surged 4.8% in the past 24 hours to trade at $204.72 as of 6:10 a.m. EST on trading volume that plunged 9% to $11.6 billion.
This comes as VanEck filed its fifth amendment for its spot Solana ETF (VSOL) with the US Securities and Exchange Commission, introducing a 0.30% management fee and a regulated staking feature that’s the first of its kind for a US digital asset fund.
🚨JUST IN: @vaneck_us has filed an updated S-1 for its spot @Solana ETF, setting the management fee at 0.30%.
The filing adds details on staking, noting plans to potentially delegate SOL to multiple third-party staking providers, with allocations based on performance, uptime,… pic.twitter.com/lR02YtK40U
— SolanaFloor (@SolanaFloor) October 14, 2025
The firm is set to use one or more third-party staking providers, including SOL Strategies, to manage Solana delegation and yield generation.
Meanwhile, Gemini Trust Company and Coinbase Custodian will be the custodians of the ETF and store the Solana holdings of the fund in an insured and regulated manner. VanEck’s staking model includes a 5% liquidity buffer to manage redemption risks during market volatility.
In other developments, the Fantasy sports crypto platform Sorare is preparing to migrate from Ethereum to Solana after 6 years.
✨ We are moving to @solana 🚀
Our goal is to accelerate our vision of an open & on-chain sports platform for Sorare, where speed, liquidity and utility are at a core of a new digital sports economy.
It’s not a replacement, it’s an upgrade
A thread 🧵 pic.twitter.com/VVhRik7gU5
— Sorare (@Sorare) October 8, 2025
According to Niclas Julia, CEO of Sorare, he remains confident in Ethereum even as the company prepares to migrate to Solana, which he refers to as an “upgrade.”
Solana just climbed back above the $200 level, as it sustains its recovery from Friday’s flash crash that pushed prices down below $170.
Even as the price rises, Solana’s on-chain metrics reveal a persistent lack of bullish momentum. For instance, decentralized applications (dApps) on Solana generated $35.9 million in weekly revenue, while network fees totaled $6.5 million, which is a 35% drop from the previous month, according to DefiLlama data.
Solana Price Regains Balance After Channel Breakdown
The SOL price has been attempting to recover after a recent breakdown from its rising channel pattern.
From June, the Solana price traded within this rising channel, marking a steady bullish trend that began around mid-June 2025. The price of SOL respected both the upper and lower channel boundaries, forming a consistent sequence of higher highs and higher lows.
However, recent selling pressure, as a result of the flash crash, pushed the price of Solana briefly below the lower trendline, testing the strength of bulls around the $175–$180 range.
Currently, Solana trades near $204.72, showing resilience as it bounces from the 200-day Simple Moving Average (SMA) ($173), a critical long-term support. This rebound is also accompanied by an attempt to reclaim the 50-day moving average at $217, a level that now acts as short-term resistance.
The Fibonacci retracement places SOL around the 0.382 retracement level ($205), suggesting a potential inflection point where a decisive move could set the tone for the next trend.
SOL Technical Indicators Hint Consolidation Before The Next Surge
The Relative Strength Index (RSI) is hovering around 46.47, a neutral zone indicating that neither buyers nor sellers have full control. Should the RSI move above 50, it would reinforce bullish momentum, whereas a dip toward 40 could signal a return to downward pressure.
Meanwhile, the Chaikin Money Flow (CMF) indicator sits slightly positive at +0.18, suggesting mild capital inflow into Solana. This indicates that buying interest remains present, even after the recent correction.
Considering the bullish signs, the near-term outlook for the price of Solana leans toward cautious optimism. If the SOL price holds above the $190 level and successfully clears resistance at $217, it could advance toward $223 and eventually retest $253.
Conversely, failure to sustain above $190 might lead to another dip toward $175 or even the 0.618 Fibonacci level at $175.23.
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