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🌞 SOL Summer Starts Now — 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 “generating yield through on-chain staking,” ushering in a “new era of yield-generating crypto exposure.” Solana reached $160, liquidating roughly $9 million in short bets on Monday afternoon.

Solana “bounced nicely over the weekend” 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.

“The big question is how much demand there will be,” Daan said, recalling that Ethereum (ETH) sport ETFs, legalized in July 2024, had a dismal debut and “only started seeing decent inflows about a year later.”