Solana Breaks Out of Ascending Triangle, Targets $164 Resistance

Solana (SOL) has surged 8% over four days to trade at $156.19, breaking free from months of consolidation between $120-$130. The breakout from an ascending triangle pattern suggests bullish continuation, with technical analysts eyeing $164 as the next target. Daily trading volume has spiked to $3.26 billion as SOL attempts to establish higher support levels. While the RSI has recovered to 54.51 from oversold territory, the momentum indicates strong buyer interest. This development marks a significant shift for Solana, which had been range-bound for an extended period. The ascending triangle breakout is a classic technical signal often preceding substantial upward moves, and the $164 resistance level now stands as the next critical test for SOL. Market participants are closely watching whether Solana can sustain this breakout and continue its upward trajectory, potentially paving the way for new yearly highs. The increased trading volume accompanying the price movement lends credibility to the breakout, suggesting institutional and retail participation. As of June 11, 2025, Solana''s technical structure appears robust, with the cryptocurrency showing resilience despite broader market fluctuations. If the $164 resistance is convincingly breached, it could open the door for further gains toward the $180-$200 zone, a psychologically important threshold. Traders should monitor for potential pullbacks to the $150-$152 area, which may now serve as new support given the recent price action. This breakout could reignite interest in Solana''s ecosystem projects and decentralized applications, potentially creating a positive feedback loop for SOL''s valuation.

Solana Breaks Out of Ascending Triangle, Targets $164 Resistance

Solana (SOL) has surged 8% over four days to trade at $156.19, breaking free from months of consolidation between $120-$130. The breakout from an ascending triangle pattern suggests bullish continuation, with technical analysts eyeing $164 as the next target.

Daily trading volume has spiked to $3.26 billion as SOL attempts to establish higher support levels. While the RSI has recovered to 54.51 from oversold territory, the thick red Ichimoku Cloud at $163.76 presents formidable resistance that must be breached to confirm a sustained uptrend.

The cryptocurrency''s $82 billion market cap reflects growing institutional interest, though the market remains cautiously optimistic. ''This is a classic technical setup,'' remarked one trader, ''but SOL needs to convert that cloud resistance into support to justify the bullish thesis.''

Canary Marinade Files First Solana Staking ETF in Delaware

Canary Capital has registered the Canary Marinade solana ETF in Delaware, marking the first U.S. exchange-traded fund to offer staking rewards for Solana. The filing, announced on June 10, 2025, provides investors with a streamlined way to gain exposure to Solana''s $90 billion blockchain while earning passive income through staking.

The ETF partners with Marinade Finance to manage staking operations, leveraging Solana''s proof-of-stake mechanism. Marinade''s platform employs rigorous security protocols, including SOC 2 compliance and a network of 30-40 validated nodes, ensuring asset safety without direct custody by the fund.

Solana''s price rose 4% to $158 following the announcement. The SEC is currently reviewing the filing, with analysts estimating an 82% approval probability by year-end. Regulatory Optimism stems from Solana''s commodity classification and established futures market, though the SEC has historically delayed crypto ETF decisions.

Solana Price Targets $200 Amid Bullish Momentum and Staking ETF News

Solana''s SOL token is riding a wave of bullish momentum as the broader cryptocurrency market recovers from recent volatility. The asset has invalidated negative trends, trading above key moving averages at $158.87, with the 100 SMA providing support at $144.82.

Market observers note potential for upward movement, with a break above $164 resistance potentially propelling SOL toward $178.50. Analysts suggest a golden cross formation could provide additional impetus, while cautioning that a drop below $153 might test the $140 support level.

The ecosystem received fundamental support with the registration of the Canary Marinade Solana ETF in Delaware—the first U.S. ETF proposal incorporating staking features. This development leverages Marinade Finance''s SOC-2 compliant infrastructure, potentially attracting institutional interest.

Crypto analyst Ali projects significant upside potential, suggesting SOL could see 5X-10X gains if it decisively breaks the $200 psychological barrier. The combination of technical strength and fundamental developments creates an optimistic outlook for Solana''s near-term price action.

SEC Requests Revised S-1 Forms for Solana ETFs, Signaling Potential Approval

The U.S. Securities and Exchange Commission has directed prospective issuers of spot Solana ETFs to amend their S-1 filings within seven days, with comments expected within 30 days. The regulatory focus centers on in-kind redemptions and staking mechanisms—a clear step toward formalizing crypto investment vehicles.

Major asset managers including Fidelity, Grayscale, and VanEck are among those vying to launch SOL-based funds. Polymarket traders now price approval odds at 91% by year-end, with July emerging as a plausible timeline. This regulatory engagement mirrors the SEC''s evolving stance on digital asset frameworks.

SOL surged 5% to $164 following the announcement, demonstrating market sensitivity to institutional adoption signals. The MOVE underscores growing institutional confidence in alternative layer-1 blockchains beyond Ethereum.

U.S. SEC Accelerates Solana ETF Approval Process, Potential July 2025 Launch

The U.S. Securities and Exchange Commission has entered a critical phase in the approval process for Solana ETFs, requesting updated S-1 filings from applicants within the next week. Regulatory review of these submissions is expected within 30 days, potentially clearing the path for approval as early as July 2025.

Key considerations include investor redemption mechanisms and the inclusion of staking rewards. "We think the SEC may now prioritize 19b-4 filings for Solana and staking ETFs," noted Bloomberg ETF analyst James Seyffart, suggesting approvals could precede October deadlines.

Major asset managers including Fidelity, VanEck, and Grayscale are competing for first-mover advantage in what WOULD mark a watershed moment for Solana''s institutional adoption. The blockchain''s native token SOL has emerged as the clear focal point of this regulatory development.