#Solana

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𝙎𝙤𝙡𝙖𝙣𝙖 𝙍𝙖𝙧𝙚 𝙋𝙖𝙩𝙩𝙚𝙧𝙣 𝙈𝙖𝙮 𝙏𝙖𝙠𝙚 𝙎𝙊𝙇 𝙋𝙧𝙞𝙘𝙚 𝙩𝙤 $297 𝘼𝙨 𝙀𝙏𝙁 𝘼𝙥𝙥𝙧𝙤𝙫𝙖𝙡𝙨 𝙊𝙙𝙙𝙨 𝙎𝙤𝙖𝙧

Solana price has remained flat, continuing a trend that began on June 29. This performance could be a sign of potential buying, which could trigger a strong surge. SOL price has already formed a highly bullish chart pattern, while ETF approval hopes have jumped.

The main catalyst for the Solana price is the rising ETF approvals by the SEC later this year. Polymarket odds of these approvals have soared to over 90% this week.

These odds have remained at an elevated level even after the agency delayed the Fidelity Solana ETF.

There are signs that Solana ETFs will be popular and lead to substantial inflows from investors. JPMorgan analysts see the SOL ETFs having over $6 billion in inflows in the first year.

Another sign of demand for these ETFs is the recently approved Staking ETF (SSK) is seeing robust demand from investors. It now holds over $20.7 million in assets, a substantial amount given its costs. SSK has an expense ratio of 1.14%, much higher than most ETFs, which charge less than 0.5%.

Additionally, spot Bitcoin and Ethereum ETFs are seeing strong inflows this year. Bitcoin funds are nearing the $50 billion inflow milestone, while Ethereum funds have about $4.46 billion.

One of them, GENIUS, has already passed in the Senate in a bipartisan manner. This bill will benefit Solana because it is one of the top chains for stablecoin transactions with over $10 billion of supply.

This descending channel is part of Solana’s bullish flag pattern. It has also formed an inverse head-and-shoulders pattern.

As such, the most likely scenario is where the SOL price surges to $186, the highest point in May, and 23% above the current level. A break above that level will raise the odds of it jumping by over 90% to $297.