Solana (SOL) has climbed to $155, buoyed by institutional interest and technical strength, notably holding above its 50-day and 100-day exponential moving averages (EMAs).

The smart contract platform saw renewed bullish sentiment after the launch of the first U.S.-regulated Solana staking ETF, known as SSK. Within just two days, the fund attracted over $40 million in inflows, highlighting growing investor appetite for Solana-based financial products.

📈 Solana ETF Launch Spurs Price Recovery

After a sharp correction from $187 in May to $125 on June 22, SOL has rebounded by 22% from its recent lows. This recovery is supported by broader institutional interest in tokenized real-world assets (RWAs) and the increasing acceptance of exchange-traded crypto products.

The SSK ETF, jointly launched by REX Shares and Osprey Funds, aims to bridge decentralized staking rewards with traditional ETF market access. It offers exposure to spot SOL and incorporates on-chain staking benefits for both institutional and retail investors.

🔍 ETF Inflows and Market Outlook

According to Bloomberg analyst Eric Balchunas, SSK received $20 million on its debut day and added another $20 million on the second, bringing the total to $40 million. While these numbers trail behind the first-day performances of Bitcoin and Ethereum ETFs, Balchunas noted the metrics were solid, with consistent green prints across the board.

The SEC is reportedly moving toward creating a framework for expedited listing of similar products, indicating growing regulatory openness to Solana-based ETFs.

📊 Technical Levels to Watch

Solana’s price action remains above the 50-day EMA at $151 and the 100-day EMA at $153, signaling strong near-term bullish momentum. A daily close above the 100-day EMA could reinforce the uptrend, increasing the probability of a breakout toward the 200-day EMA at $158.

Key Support Levels:

$147 – Recently tested on Tuesday

$125 – June 22 low and major range support

While the outlook is bullish, traders should remain cautious of macroeconomic headwinds that may inject unexpected volatility into the market.

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