🚀 $SOL +13 % exceeds $200: technical, institutional, and ETF momentum on the way — now to $300+?
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Solana skyrocketed 13 % to exceed $200, in a clear signal of strength led by a confluence of factors:
Technically, the breakout of an active ascending triangle since the beginning of the year has activated Fibonacci targets towards $220, $260, and $362, with $268 as a key intermediate level.
In institutional terms, public companies already hold over $591 million in SOL (~0.65 % of the supply), while open interest (OI) reached $10.7 billion, driving the bullish narrative.
ETFs on the lookout: there are 8 ETF applications, including firms like VanEck and Fidelity, with a 91 % chance of approval, which could attract significant flows to the ecosystem.
Additionally, a gigantic mint of $750 million in USDC on Solana not only increases its utility but also reinforces its role as an institutional settlement layer.
Are you joining the bullish momentum or waiting for consolidation?
