According to Cointelegraph, REX Shares has launched the first U.S. staked cryptocurrency exchange-traded fund, directly investing in Solana (SOL) and earning yield through staking. If the price of SOL breaks above $159, it will indicate a trend change.
The price of SOL retraced from the 50-day simple moving average ($156) on Monday, showing strong bearish defense. Bulls are attempting to halt the decline at the 20-day exponential moving average ($148). If the rebound continues, SOL/USDT could rise to $168 and $185.
If it breaks below $140 support, SOL could drop to $126 and $110. The 4-hour chart shows that SOL rebounded from the 50-SMA and rose to the 20-EMA. If it maintains above the 20-EMA, it could rise to $155 and $159. A breakout above $159 will form a reverse head and shoulders pattern, targeting $192.
