đ SOL Summer Starts Now â ETF Momentum Points to $180
Solana (SOL) retested a key resistance level after rebounding $150 over the weekend. The spike, fuelled by the debut of a SOL-based staked ETF, has some experts predicting a rally to the next significant objective.
X reports that the REX-Osprey ETF would follow SOL and âgenerating yield through on-chain staking,â ushering in a ânew era of yield-generating crypto exposure.â Solana reached $160, liquidating roughly $9 million in short bets on Monday afternoon.
Solana âbounced nicely over the weekendâ but has yet to reverse the Low Timeframe (LTF) trend, according to Daan Crypto Trades. Reclaiming $159-$167 is important to reach higher levels, he said.
However, the trader doubted a Solana spot ETF-driven rise would boost the cryptocurrency. In particular, Grayscale, VanEck, 21Shares, and Bitwise have applied to the SEC to create a US spot SOL ETF.
âThe big question is how much demand there will be,â Daan said, recalling that Ethereum (ETH) sport ETFs, legalized in July 2024, had a dismal debut and âonly started seeing decent inflows about a year later.â
After the ETF-fueled breakthrough, analyst Hardy observed Solana's âTextbook move, clean breakout, clean retest, and pump,â which might lead to a $200 run. Over the weekend, the cryptocurrency reclaimed the $144-$148 critical level and broke $150.
In this performance, the analyst saw that Solana had broken out of its local downtrend line after regaining $148 resistance and retesting the breakout zone. He said there is âJuicy liquidity sitting above, ready to be taken,â and Solana needs to maintain $150 to continue its bullish run to the next goal.
Crypto Batman thinks Solana is âsetting up very nicelyâ following the $160 retest. The piece states, âIt has broken out from a bullish flag pattern that bottomed at the 0.618 Fibonacci level, a clear sign of impulsive strength in the trend.â
SOL has traded in the bullish shape since May, staying between $130 and $180 for about two months.
