Solana Surges $12B on ETF Hype—Can It Smash Through $168?

Solana’s market cap rockets by $12 billion as ETF rumors ignite bullish frenzy. The fifth-largest crypto now eyes a critical resistance level at $168—a make-or-break moment for traders.

Why the sudden surge? Institutional money’s sniffing around SOL like a Wall Street wolf pack. But let’s be real—when hasn’t ETF speculation inflated a crypto bubble?

Technical breakout or trap? Solana’s price action mimics its 2021 bull run, but this time it’s got Layer 1 rivals gunning for its throne. The smart money’s watching volume: if it fades below $168, prepare for the classic ‘buy the rumor, sell the news’ faceplant.

One hedge fund manager yawns: ‘Wake me when the SEC actually approves something.’

Solana ETF Price Surge Fuels Breakout Rally And Forecast Optimism

The solana ETF price surge has transformed market sentiment, with SOL trading at $151 after a 16% weekly gain at the time of writing. The market capitalization was raised by 17.9 percent with an increase of $68.32 billion to $80.55 billion. This Solana $168 resistance level becomes crucial as technical indicators support the ongoing Solana breakout rally.

Bloomberg ETF analyst Eric Balchunas had this to say:

Technical Indicators Support Continued Rally

Coming Soon: The First-Ever Staked Crypto ETF in the U.S.!

Introducing the REX-OspreySOL + Staking ETF, designed to track the performance of Solana while generating yield through on-chain staking.

SOL exposure
Staking rewards

A new era of yield-generating crypto… pic.twitter.com/I8yIEqiI5R

The Solana price forecast remains bullish as SOL broke above its descending trendline and also closed above the 50-day EMA at $151.48. The RSI reads 52, which is above neutral levels, while MACD shows a bullish crossover. This technical setup reinforces the Solana investment potential, with the Solana ETF price surge providing fundamental support for further gains.

Eric Balchunas also stated:

Rex also filed an updated prospectus, which totally filled in. Add it all up and it appears as though all systems go for imminent launch. $SSK is the ticker. pic.twitter.com/Mkbqd2Qjo4

Regulatory Progress Drives Optimism

REX Shares has addressed SEC concerns for its staking ETF, and is bypassing traditional 19b-4 filing processes. The Solana $168 resistance represents the next key level, as the Solana breakout rally gains momentum from regulatory clarity. This Solana ETF price surge positions SOL for potential gains toward $184.13 if current support holds at the time of writing.

Balchunas added:

Update: here’s the SEC saying it has no further comments, so they are good to launch it looks like. Wow. pic.twitter.com/EB2AzasrsD

The solana price forecast suggests continued upside right now, with the cryptocurrency’s Solana investment potential attracting institutional interest. With the launch of the first Solana staking ETF approaching, the current Solana breakout rally may continue and the Solana $168 resistance is definitely an imperative level to consider.