The introduction of the REX Shares staked Solana ETF has positively influenced the price of SOL, with a trading threshold of $159 indicating a potential trend shift. Launched on Wednesday, this ETF offers investors direct access to Solana and the chance to earn through staking. Despite recent price gains, momentum waned on Tuesday. Analyzing the charts reveals that Solana faced resistance at the 50-day simple moving average (SMA) of $156, with bears actively defending this level. Meanwhile, bulls are attempting to stabilize the price at the 20-day exponential moving average (EMA) of $148, indicating a strategy of buying on dips. If the price rebounds, it could rise to $168 and possibly $185. However, sellers may aim to push the price down to the strong support at $140, which buyers are expected to defend vigorously. A break above $159 could signal a bullish inverse head-and-shoulders pattern targeting $192, while a drop below $144 may lead to further declines. Read more AI-generated news on: https://app.chaingpt.org/news

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