SOL ETF

Solana

Coin

<p><i>The recent excitement around Solana's ETF application initially drove </i><a href="https://www.bitget.com/spot/SOLUSDT?channelCode=zpkw&amp;vipCode=94qs&amp;groupId=334813"><i>SOL's price</i></a><i> up by 10%. However, this bullish trend couldn't hold, leading to a subsequent dip. Analysts remain optimistic about Solana's future, but its short-term outlook appears bleak. Will it go too low?</i></p>
<h3 id="strong-solana-price-analysis-long-term-optimism-strong"><strong>Solana Price Analysis: Long Term Optimism</strong></h3>
<p>Currently, <a href="https://cryptoticker.io/en/token/SOL">SOL Coin price</a> is range-bound between $132 and $143, experiencing an average of 5% drop in the last 24 hours due to market sell-offs. The daily chart reveals a Relative Strength Index (RSI) indicating bearish momentum. If this bearish phase continues unchecked, <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">SOL's price</a> may decline further.</p>
<p><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_07_05_db1d70fb06.png" alt="By TradingView - SOLUSD_2024-07-05 (1D)"></p>
<p>Crypto traders and analysts have provided <a href="https://cryptoticker.io/en/prediction/solana-price-prediction">a prediction for SOL</a>, considering bear, baseline, and bullish scenarios if the Solana ETF is approved. They estimate that a spot Solana ETF could capture 2%, 5%, and 14% of Bitcoin inflows for each phase, potentially driving SOL's price to $1,192 in the long term.&nbsp;</p>
<h3 id="strong-sol-price-prediction-sol-coin-stuck-in-wait-and-see-mode-strong"><strong>SOL Price Prediction: SOL Coin Stuck in Wait-and-See Mode</strong></h3>
<p>The Cumulative Volume Delta (CVD) currently shows a negative net difference, with over 127K tokens sold compared to those bought. This suggests a prevailing selling pressure in the market for Solana Coin.</p>
<p>Additionally, <a href="https://cryptoticker.io/en/token/SOL">SOL</a> has formed a rounding top and an inverted cup and handle pattern on the daily chart. These patterns indicate a bearish continuation, possibly leading to a further decline, bringing the price down to $126.94. However, if buying pressure increases or if <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">SOL Coin</a> becomes oversold, this prediction may be invalidated, potentially pushing the price back up to $145.25.<br><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_07_05_5_D_a148c5fc6a.png" alt="By TradingView - SOLUSD_2024-07-05 (5D)"><br>Having established these support and resistance levels remain very conservative, in a sharper crash in the market and mainly in that of Bitcoin and Ethereum in particular, <a href="https://cryptoticker.io/en/solana-price-prediction-and-analysis-following-sol-liquid-staking">Solana price</a> can break the $6 level and go down to below $120, but with that, it would highly unlikely to break the strong emotional level of $100, based on current price indicators.</p>
<h3 id="strong-sol-etf-an-approval-or-rejection-expected-strong"><strong>SOL ETF: An Approval or Rejection expected?</strong></h3>
<p>A recent Galaxy Research paper suggests that the U.S. SEC may not approve Solana ETFs. The lack of a futures Solana ETF and previous labeling of the token as a security are cited as significant obstacles. Adding more pressure on the Solana price, after giving it a slight boost a few days ago.</p>

Solana Price Prediction: Will Solana Coin CRASH to BELOW $100?

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