$SOL

As aforementioned, the most expected reaction in the SOL price amid growing ETF optimism is a bull run. This rally has become even more likely with the formation of a symmetrical triangle pattern, hinting at a looming breakout from consolidation.

This triangle formation sparks a bullish Solana price prediction if it can rise above the upper resistance level of $159. SOL was rejected at this price yesterday, but if a spark in buying pressure forms and it forms a decisive close above it, a 47% rally could commence to $235.

The AO histogram bars are supporting this bullish outlook as they turn green despite remaining below the mean level. This formation shows that the bearish pressure that has been keeping SOL below the $200 psychological support is losing strength, and a rally may be imminent.

At the same time, Solana price appears to be facing strong resistance at the 50-day SMA level of $157. The price needs to cross above this short-term MA and move above the 200-day SMA of $166 to make a rally past $200 likely.

Nevertheless, a decisive close below this crucial SMA level may happen after the REX-Osprey staking SOL ETF launches in the US tomorrow, and the 47% symmetrical triangle breakout may be imminent. Hence, if Solana price reacts to this news, traders may anticipate a move above $200.

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