Solana Price Drops 1% As Kaleo $10 Pump, ARK Buys Solmate

The Solana price dropped over 1% in the past 24 hours to trade at $242.17 as of 6:10 a.m. EST on trading volume that plunged 22% to $8.8 billion.

This comes as LedgArt co-founder and crypto analyst Kaleo predicts that the SOL price could soar more than 4x to $1,000. According to Kaleo, a four-digit SOL price is no longer a “meme” but a likely scenario.

$SOL / #Solana

Slowly but surely this is playing out to the T.

$1,000+ SOL isn’t a meme. https://t.co/5zXdRKlS54 pic.twitter.com/1zdL7DZHHQ

— K A L E O (@CryptoKaleo) September 17, 2025

Such optimism may stem from SOL’s rapid adoption among corporate treasuries. Brera Holdings PLC recently announced a strategic pivot to become Solmate, a SOL-based digital asset treasury and infrastructure company.

And now Cathie Wood’s ARK Invest has bought just under $162 million worth of shares in Brera (BREA).

CME Group, the world’s largest operator of financial derivative exchanges, has also announced plans to launch options on Solana (SOL) and XRP futures next month.

“The launch of these options contracts builds on the significant growth and increasing liquidity we have seen across our suite of Solana and XRP futures,” said CME Global Head of Crypto Giovanni Vicioso.

Solana Price Shows Strength Amid Key Resistance Levels

The SOL price has been in a strong bullish trend since early summer, climbing steadily within a well-defined rising channel pattern.

The Solana price recently tested the upper boundary of this channel near $248, just shy of the Fibonacci 1.0 extension level at $253.66, which now acts as the next major resistance.

Currently, SOL is trading comfortably above both the 50-day SMA at $200.38 and the 200-day SMA at $162.78, which adds technical strength to the ongoing uptrend.

The Fibonacci retracement levels further highlight how prior resistances at $174 (0.5 level) and $192 (0.618 level) have turned into strong support zones, reinforcing the bullish structure.

SOL Major Indicators Signal Strong Momentum

The Relative Strength Index (RSI) is hovering around 65, indicating intense buying pressure but not yet in extreme overbought territory, leaving room for further upside.

Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the blue MACD line above the orange signal line and in positive territory. The histogram remains green, reflecting strengthening momentum in favor of buyers.

If the Solana price maintains its position within the rising channel and manages to break past the $253.66 resistance, it could trigger another leg higher toward the $295 region, within its all-time high (ATH) zone.

The surge could be supported as investors rush to buy more, with SOL’s Fear and Greed Index turning to greed.

#Solana Fear and Greed Index is 62 – Greed
Current price: $248.49 pic.twitter.com/klnkvYm9QX

— Solana Fear and Greed Index (@SolanaFGI) September 18, 2025

Crypto analyst Ali Martinez supports the general bullish outlook, looking for a rally toward the $270 zone.

However, failure to sustain above $240–$245 could result in the SOL price retesting the mid-channel support near $220. 

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