Shocking! $SOL suddenly brings a trillion-level benefit, SEC has a 90% chance of approving the ETF, and 2 billion in funds are on the way!
Currently, SOL is consolidating in a one-hour timeframe, with prices repeatedly testing the support level around 203, which is a key defense area above recent lows. The technical analysis shows a convergence of moving averages, with short-term and medium-term moving averages close together, indicating that the market is in a stage of directional choice. Trading volume is fluctuating but has not significantly increased, showing a stalemate between bulls and bears.
Positive news is dense: The approval of the SOL spot ETF is entering the final stage, with a 90% chance of SEC approval. If approved, it could attract an additional $2-5 billion in funds, directly pushing up market capitalization rankings. Additionally, the Solana ecosystem has reached cooperation agreements with well-known NFT platforms and is exploring applications in traditional finance, further expanding the influence of the NFT market.
On-chain data shows that the trading volume of the Binance SOL/USDT trading pair has reached $1.18 billion in 24 hours, indicating extremely high market participation. In terms of technical upgrades, Solana plans to optimize its consensus mechanism and introduce new smart contract features to enhance platform performance and security.
Beware of wash trading risks around 210: If it breaks through effectively, it could rise to 223; if it falls below 203, caution against a pullback is needed. The current MACD histogram continues to show positive growth, indicating bullish dominance, but the KDJ indicator is neutral, so beware of volume-price divergence.
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