Hong Kong’s Spot ETF & RWA Growth Boost Confidence: Is SOL Price Ready For New ATH?
The post Hong Kong’s Spot ETF & RWA Growth Boost Confidence: Is SOL Price Ready For New ATH? appeared first on Coinpedia Fintech News
The SOL price is in focus due to multiple reasons, with the most notable being its price action. An expert this week displayed that SOL/USD has once again approached its most reliable five-year ascending trendline after several weeks of steady decline.
According to the analyst, this region aligns with a long-term uptrend that has consistently defined Solana crypto’s broader growth trajectory.
Historically, every major touch point of this support line has triggered strong rebounds lasting months, including during the 2022 bear market and the FTX collapse.
At the time of writing, the SOL price today hovered near $189, down around 5% in the past 24 hours with a market capitalization of roughly $103.3 billion.
The area between $164 to $176 continues to act as a critical support zone, combining both diagonal and horizontal demand levels from prior trading ranges.
That said, if the Solana price chart confirms a bounce from this region, it could mark the end of the recent correction phase and potentially set the stage for a fresh upward cycle.
Hong Kong Approves First Solana Spot ETF
Apart from price action, another major reason for solana remaining in focus is a major institutional milestone, as Hong Kong has officially approved the world’s first Solana spot ETF, set to debut on October 27 on the Hong Kong Stock Exchange.
This is Offered by ChinaAMC, the ETF provides exposure through HKD, USD, and RMB trading counters. This is broadening accessibility for both regional and international investors.
The product directly holds SOL, backed by the CME CF Solana-USD index, and charges a management fee of around 2%.
