Key Notes
- Fidelity submitted Form 8-A for its Solana spot ETF, typically the final step before trading begins within 24 hours.
- Pump.fun revenue exceeded $900 million, highlighting strong ecosystem activity despite recent market weakness.
- SOL tests the 100-week SMA at $164.71 with RSI at 38.41, approaching oversold territory as bulls seek re-entry.
Solana
SOL
$135.6
24h volatility:
3.6%
Market cap:
$75.59 B
Vol. 24h:
$9.30 B
price held steady around $134 on Nov. 17, limiting losses to under 1.5% as global crypto markets opened lower. Traders positioned cautiously ahead of Nov. 18’s high-stakes US congressional vote, where political tensions continued to mount on President Donald Trump with allegations surrounding links to ongoing investigations into Jeffery Epstein.
Despite the macro headwinds, Solana avoided deeper losses, supported by bullish internal ecosystem updates that helped balance sentiment.
A positive catalyst emerged early Nov. 17, as Fidelity Investments, managing $6.4 trillion in assets, filed a Form 8-A with the US SEC for its Solana spot ETF. The filing represents the final administrative step typically submitted immediately before a product begins trading. Historically, 8-A filings are followed by ETF listing activity within 24 hours, signaling that Fidelity’s Solana fund is likely to debut imminently. The firm’s Bitcoin
BTC
$89 738
24h volatility:
5.4%
Market cap:
$1.79 T
Vol. 24h:
$110.69 B
and Ethereum
ETH
$2 984
24h volatility:
6.3%
Market cap:
$362.61 B
Vol. 24h:
$43.81 B
spot ETF currently hold $11.9 billion and $2.5 billion respectively, according to FarsideInvestors data.
Fidelity joins Bitwise (BSOL) and Grayscale (GSOL), both of which received approval for their Solana ETFs late last month. As of press time, BSOL holds $357.8 million in SOL while GSOL manages $24.4 million. Since trading began on Oct. 29, neither ETF has reported a single day of net outflows as whale investors opt to capitalize on Solana’s attractive yield amid the recent market turbulence.
Further boosting Solana’s intraday rebound prospects, community tracker Solana Floor reported that Pump.fun surpassed $900 million in all-time revenue. The token generation platform, launched in January 2024, produced viral meme-driven projects like Fartcoin, Moo, and Peanut the Squirrel, each reaching billion-dollar market caps within months of launch.
🚨NEW: @pumpfun has surpassed $900M in cumulative revenue since launch. pic.twitter.com/Xd4ZbPKmhT
— SolanaFloor (@SolanaFloor) November 17, 2025
Solana Price Forecast: SOL Tests 100-Day SMA as Momentum Weakens but Buyers Seek Re-Entry Zone
Solana trades at $132.91, sitting just above the 100-week SMA at $164.71 which it lost last week and is now attempting to reclaim. Price remains below the 50-week SMA at $176.55, a key rejection point throughout October. A recovery above this level would mark the first signal of bullish re-acceleration.
Solana (SOL) Technical Price Analysis | Nov. 17, 2025
With its marker at $226.08, the Parabolic SAR prints well-above Solana’s current price, confirming that momentum remains decisively negative on the weekly timeframe.
The RSI sits at 38.41, approaching oversold levels but still above extreme conditions. The Bull-Bear Power (BBP) indicator is deeply negative at -79.77, reflecting capitulation-tier selling pressure consistent with the final phase of weekly downturns.
If Fidelity accelerates corporate inflows, SOL could stage a recovery to $150. However, if political risk weighs markets down further into Nov. 18’s vote, the $120 floor could be tested again.
Conversely, a decisive reclaim of $150 would neutralize bearish momentum and position SOL price to retest the 100-week SMA at $164.71, followed by the 50-week SMA at $176.55.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
