SOL News and Price Watch Today: Solana Gains Modest 1.84% Amid ETF Momentum

Key TakeawaysSolana price rises 1.84% to $187.21, marginally overperforming the crypto market (+1.55%)Hong Kong approves first Solana spot ETF, launching October 27, boosting institutional interestT. Rowe Price files multi-crypto ETF including SOL, showing growing TradFi exposure SOL Rises Ahead of Hong Kong ETF LaunchSolana (SOL) climbed modestly over the past day, continuing its cautious rebound amid rising optimism about ETF adoption. The move comes as Hong Kong’s Securities and Futures Commission (SFC) approved the first Solana spot ETF, set to launch on October 27, positioning Solana alongside Bitcoin and Ethereum as one of the few cryptos with regulated ETF status.This development marks a milestone for institutional accessibility, allowing traditional investors to gain SOL exposure without custody risks. The ETF will trade in HKD, RMB, and USD lots, signaling Hong Kong’s intent to lead Asia’s regulated digital asset market. Institutional ETF Filings Strengthen Market ConfidenceIn a parallel development, T. Rowe Price, managing $1.77 trillion AUM, filed for an actively managed multi-crypto ETF including Solana (SOL), XRP, and Dogecoin (DOGE). The move underscores Solana’s growing role in institutional portfolios, though analysts note that actively managed structures may limit direct buying pressure compared to spot ETFs.Despite the positive momentum, SOL underperformed Bitcoin (+1.86%) and other altcoins such as BNB (+3.55%) following the announcement, reflecting mixed sentiment as investors await early subscription data from Hong Kong’s ETF launch. Technical Snapshot: Momentum Still BearishTechnical readings show mixed-to-bearish momentum despite today’s modest rebound:Relative Strength Index (14): 42.92, signaling neutral momentum and SOL is neither overbought or oversold. MACD Level (12, 26): -8.80, showing a bearish crossover.Momentum (10): -21.91, suggesting weakening buying pressure.Source: TradingViewOn the moving averages side, SOL trades below most key levels, reinforcing a cautious short-term stance:10-day EMA: 189.43, 20-day EMA: 196.83, 50-day EMA: 203.65 — all above the current price.200-day EMA: 186.73, offering near-term support.Source: TradingViewThis setup suggests SOL is consolidating just above its long-term average, with technicals implying a potential retest of $185 support if momentum fails to strengthen. Market Sentiment and Outlook for SOL, Key Levels to WatchFear & Greed Index sits at 28 (Fear), highlighting the market’s defensive tone despite ETF-related enthusiasm. Volume fell 13.39% in the past 24 hours, underscoring low conviction in the rebound.Key levels to monitor:Support: $185 / $173.52Resistance: $196 / $205.85Critical indicator: MACD histogram (-1.79) — a further drop could extend bearish pressure.Analysts note that ETF-driven optimism could lift sentiment if early Hong Kong subscription data shows strong uptake. However, unless SOL reclaims the $196–$200 zone, momentum remains constrained.