BullishSession

Key Takeaways
$SOL breaks $175 resistance, now trading near $183 with eyes on $200.ETF optimism and $273M institutional buys fuel bullish sentiment.On-chain activity hits $570M in Q2 revenue, with $3B+ daily DEX volume.
Solana’s Momentum Reignites
$SOL is back in the spotlight, climbing over 11% this week and trading near $183. The rally is driven by growing anticipation around U.S.-approved Solana ETFs, with firms like VanEck and Grayscale in the race. REX-Osprey’s SOL ETF has already pulled in $73M in inflows, signaling strong institutional appetite.
Meanwhile, Upexi’s $273M purchase of 1.6M SOL and listings on Germany’s Xetra exchange show global interest. Technically, SOL has broken past the $175 resistance, with traders now targeting $200, $265, and even $300 if momentum holds.
Fundamentals Back the Rally
Solana’s blockchain metrics are equally impressive. Q2 on-chain revenue hit $570M, and daily DEX volume surpassed $3B, placing it second only to Ethereum. The network’s speed and low fees continue to attract developers and users, especially in DeFi and NFT sectors.
Chart watchers note a bullish cup-and-handle pattern forming, while RSI remains under 70, indicating room for further upside. However, risks remain: network instability and potential ETF delays could dampen sentiment.
$SOL fundamentals, technicals, and institutional tailwinds suggest it’s gearing up for a major breakout. Whether it can reclaim its $294 high remains to be seen, but for now, the trend is clearly bullish.
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