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Cantor Fitzgerald Holds $1.28M in Solana ETF, Potential 1,600% Rally
Cantor Fitzgerald's Investment in Solana ETF
- Cantor Fitzgerald has filed with the SEC, disclosing a $1.28 million investment in the Volatility Shares Solana ETF (SOLZ).
- The firm acquired 58,000 shares in mid-November, marking its first documented exposure to a regulated Solana-linked investment product.
SEC Approval and Market Impact
- The SEC approved several Solana ETFs in September, prompting major issuers like Fidelity and VanEck to explore new staking components and custody models.
Technical Analysis and Market Trends
- Analyst Ali Martinez highlighted the TD Sequential indicator, which has accurately predicted trend reversals for Solana since early 2023.
- The weekly chart shows Solana testing a critical support trendline that has historically triggered significant price rebounds.
Price Movements and Projections
- Solana is currently trading near $128, aligned with a key trendline, with RSI in the mid-30s and MACD indicating weakening bearish momentum.
- If the trendline holds, Solana could rebound towards $150, with potential to test higher resistance zones at $175–$185 and $220–$240.
- A failure to maintain support could lead to a drop to $115 or further down to $100.
Source: TradingView