🚨📰🗞️ SOL News Update: Solana Eyes $240 Amid Treasury Growth & ETF Inflows
Solana (SOL) shows bullish potential as treasury acquisitions and ETF inflows drive demand, with a possible rally toward $240. Despite profit-taking near $209, the uptrend remains strong if SOL stays above $185.
Key Developments:
DeFi Development Corp acquired 141,383 SOL ($187.65 each), expanding its treasury to 999,999 SOL, with $5M reserved for future purchases.
REX-Osprey’s SOL Staking ETF (SSK) surpassed $100M in assets under management just 12 days after launch.
Price Analysis:
Resistance at $209, but a rebound from $185 could signal a push toward $240, with minor resistance at $220.
Break below $172 (20-day EMA) would weaken the bullish outlook.
Short-term pullback below the 20-EMA on the 4-hour chart suggests profit-taking. Holding $185 could lead to a retest of $209.
Drop below the 50-day SMA ($170) may trigger a deeper correction.