Solana breaks out from a descending channel and retests the level, signaling a possible bullish continuation pattern in the mid-term trend.
ETF speculation builds as market voices, including Bloomberg’s James Seyffart, hint at a possible Solana Spot ETF approval within weeks.
SOL records a 5.16% daily price gain with $6.6B in trading volume, supporting strong interest from traders and ongoing market participation.
Solana (SOL) is showing strong signs of upward momentum, following a key breakout and a potential ETF approval on the horizon.
Technical Patterns Support Bullish Sentiment for SOL
According to Rose Premium Signals , Solana has broken out from a descending channel and successfully retested the breakout level. This type of movement is often used by traders to confirm a shift in trend. The retest suggests price strength and ongoing bullish behavior.
https://twitter.com/VipRoseTr/status/1932788205364953222
The tweet outlines three upside targets for SOL if current momentum continues: $259, $298, and $336. These targets are based on a classic reversal pattern that followed a breakout and retest. Such technical structures are widely tracked by market participants during trend changes.
Current price action is being viewed as a continuation pattern, supported by both structure and volume. The recent strength adds weight to a possible breakout scenario in the mid-term.
ETF Speculation Adds a Possible Catalyst
Market interest has also grown due to speculation around a potential Solana spot ETF. Johnny tweeted that SOL is close to a major breakout on the daily chart, mentioning the possibility of an ETF approval in the coming weeks.
Further support for this speculation came from Bloomberg analyst James Seyffart, who recently hinted at upcoming movement on a Solana spot ETF. While no official filing has been confirmed, the timing has sparked attention among crypto traders.
https://twitter.com/Cointelegraph/status/1932618961625002104
This type of early-stage anticipation often drives interest, especially when price momentum aligns with a possible future event. Combined with technical strength, the ETF topic has become part of current discussions.
Price and Volume Reflect Growing Market Activity
Solana (SOL) costs $166.44 at the time of writing. Solana’s 24-hour trading volume currently stands at $6.6 billion, reinforcing the current price movement. High volume often supports the validity of chart-based signals and breakout patterns.
The asset’s steady gains over the past week align with broader sentiment and structure. With both technical and speculative drivers in place, market participants continue to monitor SOL’s short-term path.
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