Solana (SOL) Price Dips 3% After SEC Extends Review Period on Grayscale’s Solana ETF

The U.S. Securities and Exchange Commission (SEC) has extended its review period on Grayscale’s proposed Solana Trust ETF, setting a new decision deadline of October 10, 2025. The fund, which would be listed on NYSE Arca, has seen significant interest as demand for spot crypto ETFs continues to surge.

This delay, while procedural, draws attention to the growing debate around regulatory clarity in the digital asset space. The Commission’s choice to delay reflects the increasing scrutiny applied to crypto-related investment vehicles and underscores the rising tension between innovation and oversight in financial markets.

SOL price reacts to the ETF uncertainty

Solana (SOL), the native token under Grayscale’s proposal, has seen noticeable price activity over the past 24 hours. The current price stands at $186.19, reflecting a 3.15% daily decline. This moderate drop follows an earlier bullish push, which saw prices reach intraday highs around $191 before retracing.

Related: SOL Price Signals a 27% Rally Despite Founder’s Controversial Remarks

The digital asset found strong support at the $183.94 level, a key price floor observed throughout the day. After dipping as low as $181.50, buyer interest reignited momentum, helping the token recover toward the $185.90 mark. This rebound suggests potential short-term strength, although market participants remain cautious.

Source: CoinMarketCap

Key resistance lies between $188 and $190. A sustained move above this range could reignite bullish sentiment. Conversely, a dip below the $183 support could signal renewed downside risk in the near term.

Technical indicators for SOL now show mixed signals

SOL/USD daily price chart, Source: TradingView

Despite the price pullback, technical metrics show a mixed outlook. The MACD line, currently at 8.28, remains below the signal line of 8.68. This crossover indicates a mildly bearish phase. However, the histogram value of -0.39 and overall positive MACD values reflect underlying bullish pressure.

Related: Solana’s CEO Calls Memecoins “Digital Slop”—Even Though They Drive 62% of His Network’s Revenue

Moreover, the Relative Strength Index (RSI) stands at 58.82. Though below the overbought threshold, it continues to rise, showing moderate buying strength. The recent peak RSI of 66.83 reinforces that the asset is not yet overextended.