Solana Price Breaks Key Resistance
- Solana (SOL) has surged above its descending trendline, signaling a potential bullish reversal.
- REX Shares filed for a Solana staking ETF with the SEC, hinting at a near-future launch.
- Technical indicators suggest SOL could rally toward $184 and beyond.
As of Monday, Solana price hovers near $151**, fueled by last week’s breakout from a prolonged downtrend. The **ETF filing** by REX Shares adds momentum, reinforcing investor optimism. Analysts now eye a climb past **$180, supported by bullish technicals.
Is a Solana ETF Imminent?
REX Shares announced via X (formerly Twitter) that their REX-Osprey SOL Staking ETF aims to track Solana’s performance while generating yield through on-chain staking.
Eric Balchunas, Bloomberg’s Senior ETF Analyst, confirmed the filing’s progress, stating:
"REX has addressed SEC comments, clearing the path for launch. They’re likely accelerating to beat future spot ETFs."
This development marks a major milestone for institutional Solana adoption.
Technical Outlook: SOL Targets $184
- Breakout Confirmed – SOL closed above the descending trendline (resistance since May 24) and the 50-day EMA ($151.48).
Next Resistance Levels –
- $160 (immediate hurdle)
- $184.13 (key daily resistance)
Bullish Indicators –
- RSI at 52 (above neutral, gaining momentum)
- MACD bullish crossover (signaling upward trend)
Caution: A pullback could test support at $141.41.
FAQ: Solana ETF and Price Outlook
Q: When will the Solana ETF launch?
A: While unconfirmed, REX Shares’ filing suggests a 2024 launch is probable pending SEC approval.
Q: What’s SOL’s next price target?
A: If bullish momentum holds, $184** is the next major resistance. A drop below **$141 may indicate weakness.
Q: How does staking affect the ETF?
A: The ETF will stake SOL, offering yield on top of price appreciation, attracting income-focused investors.
👉 Stay updated on Solana’s ETF progress
Key Takeaways
- SOL’s breakout suggests a trend reversal.
- ETF news could accelerate institutional interest.
- Watch $160 and $184 as critical resistance levels.
Disclaimer: This content is for informational purposes only and not financial advice. Cryptocurrency investments carry risks; conduct independent research before trading.