Solana Bubble Maps Turn Neutral – Is This The Setup For A SOL Summer Rally?
June 11 2025 - 10:00PM
NEWSBTC
Solana (SOL) has surged 6.6% over the past week, raising hopes
among holders that the digital asset may be on the cusp of a
significant rally – one that could potentially propel it to new
all-time highs (ATH). A combination of strengthening fundamentals
and bullish technical signals supports this optimistic outlook.
Solana Primed For A Spectacular Summer? According to a recent
CryptoQuant Quicktake post by contributor burakkesmeci, SOL is
currently undergoing a cooling phase on both the spot and futures
Bubble Maps. The analyst shared the following chart to highlight
this cooling period. For the uninitiated, a bubble map visualizes
volume data across exchanges, with each bubble representing trading
activity for a specific pair or platform. The size of the bubble
indicates the total volume, while the color shows the intensity or
change in that volume – such as cooling (green), neutral (gray), or
overheating (red). Related Reading: Solana Key Indicator Flashes
Buy Signal On Daily Chart – Rally Ahead? At first glance, lower
trading volume might seem like fading momentum. However, the
CryptoQuant analyst suggests this deceleration could be a strategic
accumulation phase, particularly as a potential catalyst looms on
the horizon. Many in the crypto community are expecting the US
Securities and Exchange Commission (SEC) to approve the first
Solana exchange-traded fund (ETF) in the coming weeks. In an X post
published today, Eric Balchunas, Senior ETF Analyst at Bloomberg,
said Solana could lead a “potential altcoin ETF summer.” Meanwhile,
predictions platform Polymarket currently places a 91% probability
on a Solana ETF being approved in 2025 – the highest odds recorded
since January of this year. Most speculators expect a SOL ETF to go
live by July 2025. From a technical standpoint, things are also
looking encouraging. In a recent X post, crypto analyst Ali
Martinez remarked that if SOL breaks above the $200 mark, it could
kickstart a 5x to 10x bull run. Martinez shared the following SOL
weekly chart, which shows the digital asset forming a bullish Cup
and Handle pattern. While the “cup” portion has already been
completed, the emerging “handle” suggests the potential for
significant price appreciation – possibly pushing SOL beyond
$2,000. SOL Showing Promise But Take Caution Despite widespread
optimism, some indicators urge caution. On-chain data recently
revealed a large movement of dormant SOL coins, which has raised
concerns about increased selling pressure in the near term. Related
Reading: Solana Horizontal Support Under Pressure – Bearish Target
At $142 That said, a considerable number of analysts believe that
SOL could surpass its current ATH of $293 later this year. At press
time, SOL trades at $167.30, up 3.5% in the past 24 hours. Featured
image from Unsplash, charts from CryptoQuant, X, and
TradingView.com
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