Solana Price Remains Stable as ETF Refilings Signal Market Interest
Solana (SOL) Update
- Current price: $234, down 2% in 24 hours from an all-time high of $294.
- Price dipped to $225 but recovered due to strong buying interest.
- Cboe refilled ETF applications for four Solana-based ETFs, seeking SEC approval.
- ETFs include Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF, and VanEck Solana Trust.
- If approved, these ETFs could broaden Solana's investor base.
SOL Price Support Levels
- Bollinger Bands indicate increasing volatility; market may trend strongly.
- Relative Strength Index (RSI) is at 53, showing neutral to slightly bullish momentum.
- Large holder activity remains high with 5,147 addresses holding at least 10,000 SOL.
- Potential resistance testing at $271; breaking this could lead to a rise towards $295 or above $300.
- Failure to hold above $229 support may result in decline to $211 or below $200.
Future Outlook
- SEC review of ETF applications could catalyze price gains.
- Total value locked (TVL) in Solana has grown to $10.95 billion, a 460% increase in 2024.
- Market capitalization stands at $114 billion, making Solana the fifth-largest cryptocurrency.