Solana Price Eyes Breakout to $200, SOL ETF Approval Timeline
The post Solana Price Eyes Breakout to $200, SOL ETF Approval Timeline appeared on BitcoinEthereumNews.com.
The price of Solana (SOL) is again in the spotlight as the current bullish consolidation has flipped the coin to a new weekly high. The Solana community also anticipates the Exchange Traded Fund (ETF) tied to the asset, prompting the debate on the potential timeline for the offering’s approval. With the price of Bitcoin and altcoin showcasing a rebound, Solana’s performance has stood out from other altcoins. Is The Solana Price Breakout to $200 Possible? According to new insight on X from market analyst World of Charts, the price of Solana is currently testing a potential breakout trend. He said the coin is testing crucial resistances that can easily push it to the $200 level if it successfully breaks out. The World of Charts thesis tips the SOL price to soar by over 86%, with the potential to add $105 in a bull case scenario. However, this does not negate a possible SOL price retest of $75 if crucial support levels fail to hold. At the time of writing, the price of Solana was changing hands for $120, up by 8.06% in 24 hours. Solana Price Chart. Source: TradingView Despite the Relative Strength Index (RSI) soaring from the low of 34 recorded on April 8 to the current 46.89, SOL is not completely out of the woods. The MA Cross indicator shows that the Death Cross inked on April 2 has yet to be invalidated. Solana ETF: Potential Approval Timeline With Solana showcasing a potential rebound trend, many community members are quizzing to determine what will happen to its growing ETF products. Responding to SOL ETF approval queries, Senior Bloomberg ETF Analyst James Seyffart broke the silence on what to expect. He reiterated that the first ‘final’ deadline for SOL ETFs is October 10. He noted that there is a…
