SOL ETF

Solana

Delta

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-review-solanas-current-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Review Solana’s Current Trends</a><br></p>
<p style="text-align: justify">Recent developments have put <a href="https://en.bitcoinhaber.net/assessment-of-solana-coin-sol-and-the-potential-impact-of-robinhoods-relisting" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL) under the spotlight. A major catalyst was the <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a> of a SOL ETF in Canada, followed by VanEck’s application for a Solana ETF. This bullish news led to a 10% surge in SOL’s price. However, despite the enthusiasm, the price hike wasn’t sustained, and even with analysts’ optimism, the future course remains uncertain.</p>
<h2 id="what-are-analysts-saying">What Are Analysts Saying?</h2>
<p style="text-align: justify">Currently, SOL is trading between $132 and $143. After a 5% drop in the last 24 hours, the price settled at $134. The Relative Strength Index (RSI) stands at 40.57, indicating a selling zone. Significant attention is on GSR’s June 28 prediction, which suggested that SOL could rise sharply if the ETF is approved, potentially reaching $1,192 in the long term.</p>
<h2 id="will-predictions-hold-true">Will Predictions Hold True?</h2>
<p style="text-align: justify">Contrary to GSR’s optimistic outlook, the Cumulative Volume Delta (CVD) paints a different picture. The CVD, which indicates the difference between buying and selling volumes, shows a net negative difference of 127,945. This suggests more selling activity than buying, casting doubts on a bullish trend.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">Investors can draw several actionable insights from the current analysis:</p>
<ul>
 <li>Monitor RSI levels for potential entry or exit points.</li>
 <li>Keep an eye on CVD for market sentiment indicators.</li>
 <li>Be aware of formations like the inverted cup and handle for trend predictions.</li>
 <li>Consider potential ETF approvals as significant market movers.</li>
</ul>
<p style="text-align: justify">An inverted cup and handle pattern also signals a bearish trend, indicating a potential drop to $126.90 if the formation completes. However, <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> can reverse these trends, potentially pushing SOL to $145.25.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-review-solanas-current-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Review Solana’s Current Trends</a></h5>

Analysts Review Solana’s Current Trends

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BH NEWS

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