Solana’s Pivotal Moment: Testing $145 Resistance Amid Market Uncertainty

Solana (SOL) is currently at a critical juncture as it tests the $145 resistance level, a convergence point of key technical patterns that could dictate its short-term price direction. As of June 29, 2025, SOL is trading at $144.3, showing modest daily gains of 2.35%. However, the weakening trading volume suggests cautious market participation, with approximately $21 million worth of SOL recently moved to exchanges, potentially indicating looming sell pressure. The $145 level represents both the top of a descending channel and the neckline of a head-and-shoulders pattern, making it a decisive battleground for bulls and bears. A successful breakout could pave the way for further upside, while rejection at this level might lead to a pullback. Market participants are closely watching these developments as Solana's next moves could have significant implications for the broader altcoin market.

Solana Tests Critical $145 Resistance Amid Mixed Market Signals

Solana's SOL approached a pivotal $145 resistance level, a convergence point of technical patterns that could determine its near-term trajectory. The asset traded at $144.3 with 2.35% daily gains, but weakening volume signaled cautious market participation.

Approximately $21 million in SOL moved to exchanges, raising questions about impending sell pressure. The descending channel top and head-and-shoulders neckline at $145 created a technical inflection point - a breakout could invalidate bearish setups, while rejection may confirm them.

Historical patterns suggest SOL frequently faces rejection at this level, though current conditions show subtle differences in on-chain activity and derivatives positioning. Market makers appear to be hedging bets ahead of what could become a volatility catalyst.

Solana's Price Rally Above $150 Faces Resistance as Key Holders Sell

Solana's recent surge past $150 is encountering headwinds as long-term holders resume selling activity. Glassnode data shows the HODLer net position change dipping back below zero, reversing last week's brief accumulation trend. These large stakeholders wield significant influence over SOL's supply dynamics, and their renewed divestment could pressure prices downward in the NEAR term.

Counterbalancing this bearish signal, the network continues attracting fresh capital. A sharp increase in new solana addresses suggests retail investors remain bullish on the altcoin's prospects. This growing user base may provide crucial support against volatility, reflecting enduring confidence in Solana's ecosystem despite recent turbulence.

SEC Nears Approval for First Staked Solana ETF as REX Shares Prepares Launch

The SEC has signaled potential approval for REX Shares' proposed staked Solana ETF, marking a pivotal moment for crypto investment products. Regulatory silence following the firm's June 27 inquiry suggests unresolved concerns may have been addressed, with Bloomberg's Eric Balchunas noting the significance of the SEC's non-objection.

REX Shares has already begun marketing the $SSK-traded product as America's first staked crypto ETF, combining Solana price exposure with on-chain staking rewards. The firm filed an updated prospectus and launched promotional campaigns, though formal SEC approval remains pending.

This development could establish REX as the pioneer of staking-based ETFs, outpacing competitors in the race to offer yield-generating crypto products. The move reflects growing institutional acceptance of proof-of-stake assets following Ethereum's successful transition to PoS.

Solana Eyes $170 Breakout Amid Golden Cross Signal

Solana (SOL) is flashing bullish signals as a golden cross formation emerges on its technical charts. The sixth-largest cryptocurrency by market capitalization currently trades above both its 9-day and 21-day moving averages, suggesting sustained upward momentum.

Priced at $147.27 with a 3.68% daily gain, SOL has rebounded from last week's $126 low. Key support now holds at $141.15, with potential upside targets at $164 and $172.51 if bullish sentiment persists. Trading volume dipped 9.11% to $3.19 billion, reflecting cautious Optimism among investors.

Binance data reveals growing long positions, while Bollinger Bands hint at possible price acceleration. As speculation mounts about Solana potentially outperforming Ethereum, the stage appears set for a significant breakout—provided user activity and network demand continue expanding.