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Solana Price Set to Break $160 as ETF Approval Looms Large

Solana Price Set to Break $160 as ETF Approval Looms Large WikiBit 2025-07-03 22:13

Key Insights: Solana ETF approval has a 98% chance, propelling Solana price toward $160. REX-Osprey Solana ETF combines staking yields with price

Finance

Solana Price Set to Break $160 as ETF Approval Looms Large

  • Solana ETF approval has a 98% chance, propelling Solana price toward $160.
  • REX-Osprey Solana ETF combines staking yields with price exposure.
  • Institutional interest surges as Solana nears major breakthrough.

Solana‘s price is edging closer to a major breakthrough as the approval of its first-ever Exchange-Traded Fund (ETF) gains momentum. With the recent surge in institutional interest and optimistic projections for Solana’s future, many analysts predict that SOL could soon surpass the $160 mark.

This surge is largely driven by the upcoming launch of the REX-Osprey Solana and Staking ETF, which could provide a new avenue for investors to gain exposure to Solanas staking yields.

The ETF, which is set to launch in early July 2025, has already generated significant interest. According to market participants, the Solana ETF‘s approval has a near 98% chance by July 31, 2025, further increasing confidence in Solana’s price trajectory.

As the approval nears, SOL is expected to gain strength, pushing it past key resistance levels.

Solana ETF Approval Nears with Strong Backing

Solana‘s first-ever ETF, the REX-Osprey Solana and Staking ETF (SSK), marks a key turning point for the cryptocurrency. With a 0.75% expense ratio, the ETF offers exposure to both Solana’s price movement and its staking rewards, which are currently yielding around 7% annually.

This combination is expected to appeal to both institutional investors and individual traders seeking consistent returns.

Source: PolyMarket

Polymarket bettors assigned a 99% probability to this event by late June, and that number has only risen since. As more institutional investors become aware of the opportunity to gain exposure to Solanas growth, particularly through its staking model, the demand for the asset has steadily increased.

Bloomberg ETF expert Eric Balchunas suggested that this approval could spark a wave of similar crypto-linked products.

Concurrently, the approval of this ETF has also stirred up discussions around other cryptocurrencies, such as XRP, ADA, and AVAX, with Bloomberg analysts predicting a 95% chance.

Solana Price Action and Technical Indicators

Solana price action has been volatile as it approaches key support and resistance levels. According to recent charts, SOLs price has tested the $144.64 support level multiple times, which corresponds to the lower Bollinger Band.

The lower band is typically seen as a strong support area, and if SOL manages to hold this level, it could rally toward the $151 resistance level.

The Bollinger Bands indicate that Solana is currently in a period of consolidation. With the bands narrowing, traders expect a potential breakout.

If the price breaks above the $151 level with strong volume, the next target could be the $157.42 resistance, and the likelihood of a move past $160 becomes increasingly probable. On the other hand, failure to hold support at $144 could lead to a retest of lower levels, particularly around $140.

Source: TradingView

The MACD (Moving Average Convergence Divergence) indicator also suggests mixed sentiment in the market. While the MACD line remains above the signal line, it has not yet shown clear bullish momentum. Traders will be watching closely to see if the MACD crosses upward, which would signal the potential for further price increases.

Institutional Support and Market Sentiment

The Solana ETF launch is not only a win for the Solana community but the entire cryptocurrency market. The REX-Osprey Solana ETF offers institutional investors a streamlined and regulated method to gain exposure to Solana, potentially alleviating SOLs liquidity and adoption concerns.

This action is similar to that of the success stories of Bitcoin and Ethereum ETF, which have recorded investments worth billions.

More than $48 billion of capital has been raised through Bitcoin ETFs, and above $4 billion of capital has been raised through Ethereum ETFs.

Although the initial inflow into the Solana ETF may not be as big as that of the Bitcoin or Ethereum-focused ETF, any additional capital flow will prompt the SOL price to appreciate even further.

Consequently, given the rising momentum of Solana among institutional investors, a prolonged upward trend in the SOL price in the next few months may be looming.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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