Bullish Chart Setup Gives Solana ETF Delay the Cold Shoulder 🤑

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Okay, okay, let’s get down to business! 📊 Here’s the lowdown:

  • SOL‘s been playing it cool, narrowing its range, and we’re thinking, “Hey, maybe it’s time for a range expansion?” 🤔 And with those bulls buying on every teeny-tiny dip, an upside breakout is looking pretty darn likely! 🚀

Fidelity Investments was all, “Hey, SEC, can we get a spot Solana ETF?” And the SEC was all, “Uh, hold up, let’s get some public comments and rebuttals first.” 🙄 Typical.

Bloomberg ETF analyst James Seyffart was like, “Yeah, we saw this delay coming.” And then he added, “Hey, interactions between the SEC and issuers/exchanges are actually a good thing!” 🤝

So, can Solana rise above its overhead resistance and give the SEC the old razzle-dazzle? 🎩 Let’s check out the charts!

SOL Price Prediction: The Chart-tastic Edition 📈

Solana tried to make a break for it on Monday but got rejected by the 50-day simple moving average ($154). Those bears are like, “Uh-uh, not so fast!” 🐻

But ” 💪 And with the trading range narrowing, we might just see a breakout in the next few days! 🎉

If the price surges above $159, it’s like, “Katie, bar the door!” 🚪 The momentum will pick up, and we might see a rally to $168 and then $185! 🚀

On the other hand, if the price turns down and breaks below $144, it’s like, “Oh no, the bulls have given up!” 😔 That might pull the price down to $137 and then $130. 😬

Now, on the 4-hour chart, we’ve got a bearish descending triangle pattern. If it breaks and closes below $144, it’s like, “Uh-oh, downward move incoming!” 😨 We might see a drop to $137 and then the pattern target of $129. 😳

But wait, the buyers are all, “Hey, we’ve got other plans!” 🤑 They’re trying to push the price above the downtrend line and invalidate that bearish setup. If they succeed, we might see a climb to $159! 🚀 And if it closes above $159, it’s like, “Inverse head-and-shoulders, baby!” 🎉 The target objective is $192! 🤯

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2025-07-08 23:16