SOL is going to the moon! 4-hour K-line breaks through with a market value of over 20 billion, could it be the leading altcoin of the season?

SOL is on the verge of breaking through! The 4-hour K-line has just torn through the resistance level of 204.76, with MA20 providing strong support, MACD showing increasing red bars, and RSI hovering around the 70 mark, indicating a bullish squeeze is imminent!

From a technical perspective, SOL has formed an ascending triangle above the support level of 197.19, with shorts liquidating over 1 million dollars on June 25th igniting a rebound. The price is positioned within the 162-164 range, and the Bollinger Bands are expanding.

On the news front, the probability of SOL ETF approval is 90%, with institutions like Grayscale significantly increasing their holdings. Approval could unleash between 2 to 5 billion dollars in funds, potentially igniting a seasonal rally similar to Ethereum's ETF!

In terms of operation, the resistance at 204.76 becomes support, with a breakout targeting 215-220. If it falls below 197.19, it will likely retest 185 dollars for a long position. Right now, SOL is the top candidate for the ETF concept, but don't chase the highs; wait for a retracement for a more stable entry!

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