Solana Soars: $180 Price Target in Sight as First US SOL Staking ETF Goes Live

Wall Street meets Web3 as Solana staking breaks into the ETF arena—just as institutional investors start pretending they 'always believed' in crypto.

The ETF Effect

SOL's price trajectory gets rocket fuel from America's first staking-focused ETF, bypassing traditional gatekeepers. The $180 target now looks conservative.

Staking Goes Mainstream

Yield-hungry investors now get institutional-grade exposure to Solana's 5-7% staking rewards—no wallet headaches, just ticker symbols and management fees.

The Cynical Take

Watch traditional finance firms suddenly discover blockchain's 'transformative potential' now that they can charge 1.5% expense ratios on it.

Solana Price Analysis Amid SOL Staking ETF Debut

As REX’s Solana Staking ETF debuts in the U.S. market, the Solana price is hovering close to its critical support zone of $140 in the daily time frame. Notably, it has been constantly trading between $140 and $158 since the month of June began. This shows a weak price action for the altcoin in the crypto market.

With a valuation of $81.80 billion, SOL has maintained its ranking as the sixth largest crypto and boasts a market dominance of 2.4102%. Whilst, the volume indicator shows increasing trading activity, reflecting elevating market interest.

The green volume bars NEAR support levels like $145 and $152 signals rising buying pressure. Notably, volume spikes often signify major price moves or confirm breakouts at key resistance zones. Currently, the chart displays rising volume, suggesting constant interest from buyers.

The solana price could retest its immediate resistance of $158 if the bulls continue gaining momentum. If the positive sentiment intensifies at that point, this may set a stage for it to head toward its key trendline of $180.

On the other hand, a bearish setback may result in it plunging toward its critical support zone of $140 or toward its crucial support trendline of $127 within a short time-frame.

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