$SOL ETF approval is imminent, all bulls charge!
On the news front, the SEC approval progress bar is full, with a 90% probability of passing in July. Institutions are sharpening their knives with funds of $2-5 billion ready to go. On-chain whales just withdrew 18,787 SOL from Gate yesterday, and large orders of 217 USDT are frequently appearing on BOSS Wallet, clearly indicating that big capital is buying up.
From a technical perspective, the MACD histogram is shrinking, but the DIF line is still hovering below water. The RSI is stuck in the neutral zone at 66. This market is like boiling water — it hasn’t reached a boiling point yet, but the fire underneath is strong.
Personally, I see the bulls as dominant now, but $174 is a hurdle. After all, the long-short ratio is 1.38, and bullish sentiment in the futures market is high.
However, be cautious of the Federal Reserve's interest rate decision on July 31, as a rate cut that falls short of expectations could require SOL to retest $168 to confirm support.
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