Solana bulls were counting down to a green-light on exchange-traded funds when the U.S. SEC put the brakes on once more, opening a formal review that could stretch out into late summer. The abrupt hold-up has plunged SOL beneath key trend lines and the buzz among mission-focused traders is that idle capital will soon be trickling into more agile plays like Remittix, a PayFi upstart that is closing on its own funding milestone as the big caps succumb to regulatory pressures.

ETF Delay Slams Sentiment and Charts

Source: Cointelegraph/ TradingView

The Solana ETF of Franklin Templeton is currently caught in the same holding pattern that left DOGE, AVAX, and HBAR funds idle last week. SOL is down by almost eight percent in the last seven days traded at $143.56 destroying most of the gains made in May. 

The near term price action draws a bearish head-and-shoulders; the neckline at 140 is important as a dip below that point opens chart targets around 123 with 110 lurking as the complete measured move. Confirming the change of mood are social and on-chain indicators: funding rates have weakened, and the number of people searching the question, Solana price prediction, has moved to the negative side of the scale, the first time since February. 

Technical Map: Beneath $110 Lies $95

A break of $140 would put Solana within a thin volume area that was last seen during the macro panic of January. When sellers use that vacuum, there will be a potential drop to $110. But cascading stop-losses tend to take high-beta assets beyond their textbook levels; in that case, the potential low at $95 will be a magnet. 

Even ETF analyst James Seyffart who continues to put the probability of approval at 90 percent admits that formal proceedings can extend decision windows so long that they can exhaust speculative momentum.

Remittix Gains While SOL Stalls

Capital which trades on short-term catalysts does not have much patience to wait months to see its catalyst play out, and Remittix is getting a piece of that action. The project has already raised 15.7 million dollars, which is only 2.3 million dollars short of the 18-million-dollar soft-cap, but its beta wallet is set to launch at the beginning of July, introducing ten-second crypto-to-fiat swaps, burning a fraction of RTX every time. 

Even new customers can get a 50% bump using the promo code SPRINT50, which puts the effective price at about five cents. Two multinational cash out partners await their launch, i.e. actual remittance volume may begin to pull supply out of the market as the funding window closes. To traders who have had enough of regulatory purgatory, a sub-ten-cent asset with a countdown clock and in-built scarcity could be more tempting than the prospect of the SEC finally clearing Solana to take off.

Discover the future of PayFi with Remittix by checking out their presale here:

Website: https://remittix.io/ 

Socials: https://linktr.ee/remittix