#Sol

Trade now . . . Bullish run confirmed👍👍❤❤👍👍👍❤ ✌✌✌🙏

𝙃𝙤𝙬 𝘾𝙤𝙪𝙡𝙙 𝙎𝙤𝙡𝙖𝙣𝙖 𝙋𝙧𝙞𝙘𝙚 𝙍𝙚𝙖𝙘𝙩 𝙤𝙣 𝙐𝙎 𝙎𝙩𝙖𝙠𝙞𝙣𝙜 𝙀𝙏𝙁 𝙇𝙖𝙪𝙣𝙘𝙝 𝙏𝙤𝙢𝙤𝙧𝙧𝙤𝙬?

Solana (SOL) has recorded a slight 1% decline within 24 hours to trade at $148 today, July 1. The altcoin is dropping despite reports that the first SOL staking ETF will launch in the US tomorrow. Nevertheless, the ETF news has sparked market optimism from traders, with some anticipating that the Solana price may undergo a massive bull run this week. If SOL reacts to the ETF launch, how high will the price rally? Let’s explore.

The upcoming launch of this product has sparked the interest of top voices in the industry, including Bloomberg analysts, who forecast that a spot SOL ETF is now closer to approval than ever. Eric Balchunas notes that the launch may drive price gains, stating,

Per Glassnode data, the addresses holding more than 0.1 SOL tokens have reached a fresh all-time high after surpassing 11.44 million. These small addresses are popular with trading based on the market sentiment, and if they are buying now, it shows they anticipate recovery.

Hence, with the rising interest and a potential spark in institutional interest from the SOL staking ETF, it is possible that the Solana price will rally, and the technical structure is already supporting a bullish outlook

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.