Solana ($SOL ) is surging, nearing the $160 mark fueled by bullish indicators.

Analyst Ali Martinez highlights a symmetrical triangle pattern on the 1H chart, predicting an 8% rise to $164 if SOL surpasses $153. SOL's 24-hour volume exceeds $4 billion, and its market cap approaches $82 billion.

The DeFi ecosystem is also thriving, with a Total Value Locked (TVL) of $8.7 billion, led by Jito's $2.7 billion. The recent launch of the SOL and Staking ETF (SSK) shows significant inflows, further boosting investor confidence.

The SEC's request for resubmitted filings suggests potential early approval of SOL-based investment products, adding to the bullish sentiment.