Solana (SOL) is quietly gaining strength ahead of a major catalyst, with bullish momentum building just as the first-ever Solana staking ETF wins U.S. approval.
The REX-Osprey Solana and Staking ETF (SSK) is set to launch on Wednesday, signaling a new era of institutional exposure that could fuel a breakout rally.
With SOL steadily climbing and sentiment turning, the long-term Solana price prediction is beginning to look increasingly compelling.
By June 27, Polymarket bettors assigned a 53% probability to this wager. Hence, the launch of the REX-Osprey Solana ETF seems to have taken everyone by surprise.
Bloomberg’s ETF expert, Eric Balchunas, anticipates that this “notable” approval could pave the way for more crypto-linked products that are waiting for the SEC’s nod to be listed.
The REX-Osprey Solana and Staking ETF (SSK) charges an expense ratio of 0.75%. Solana’s staking annual percentage yield (APY) currently sits at around 7% depending on the platform used.
Solana Price Prediction: SOL Could Rise to $185 If It Bounces Off This Key Support
Looking at the daily chart, Solana (SOL) has broken its descending price channel after tensions in the Middle East eased as a result of a cease-fire between Iran and Israel.
The price has now climbed back above the $140 level and it is currently finding support at the 9-day and 21-day exponential moving averages (EMAs).
These two indicators seem poised to make a bullish crossover that typically anticipates an upcoming surge in the near term.
The price is also tagging the upper bound of its former descending price channel and could bounce from here if this turns out to be a successful retest.
If this happens, it would favor a bullish Solana price prediction as it could push the token to retest its nearest resistance at $185.
Meanwhile, this token’s long-term prospects have improved as a result of this ETF’s approval. As regulatory hurdles are cleared and mainstream adoption accelerates, it is entirely possible to see Solana reaching $500 in the long term.
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The post Solana Price Prediction – First-Ever US Staking ETF Goes Live Wednesday: Is This the Catalyst for $500 SOL? appeared first on Cryptonews.
