Solana Summer Loading? SOL Eyes $180 Following Staked ETF-Fueled Breakout
Solana (SOL) has retested a crucial resistance level after recovering above $150, driven by the upcoming launch of the first Solana staked crypto ETF in the US by Rex Shares. The ETF aims to provide exposure to SOL and staking rewards, contributing to a price surge to $160 and liquidating nearly $9 million in short positions. Analysts suggest reclaiming the $159-$167 range is essential for targeting higher levels, with the 200-day Moving Average and Exponential Moving Average located within this range. Investment firms have filed for a spot SOL ETF, with high approval likelihood, raising bullish expectations. Analysts note Solana's recent breakout and retest of key levels, indicating potential for a rally toward $200. SOL is currently trading at $155, reflecting a 2% daily increase.
