As the whimsical winds of the crypto market caress the traders’ worn-out souls, Solana (SOL) 🌟 is slowly, yet steadily, winning back their trust, holding its ground near $166 like a devoted lover. After a brief, yet passionate, affair with the $136 mark in June, SOL has rebounded with a 2.7% daily gain, leaving the onlookers wondering if the buyers are, indeed, warming up again during this ongoing crypto bull market 🐂.
But, alas, it’s not just a fleeting infatuation! The venerable chart analyst, Ali Martinez, proclaims that breaking the $170 barrier could unleash a Solana rally of epic proportions 🚀.
A Spot ETF Approval: The Odd Surge of Optimism
As Bitcoin and Ethereum, those behemoths of the crypto realm, post double-digit gains in the last 24 hours, the market’s bullish mood is lifting other major coins, and Solana, like a loyal companion, isn’t being left behind 🐕. Perhaps one of the most significant drivers behind SOL’s recent rise is the growing conviction that a Solana spot ETF might soon receive the coveted green light in the United States 🇺🇸. Polymarket, a prediction market, predicts that there’s a 90% chance this could happen by the end of this month 📆.
Earlier this year, regulators already approved Solana futures ETFs, and Canada, that bastion of crypto progress, even launched its own Solana spot ETFs 🇨🇦. Now, investors think the U.S. is next, which could mean more big money flowing into Solana soon 💸.
The REX-Osprey ETF: A New Chapter in Solana’s Saga
Adding to the excitement, the new REX‑Osprey Solana and Staking ETF (SSK) recently launched on the Cboe BZX exchange, pulling in over $12 million in its first day and saw a strong $33 million in trading volume 📊. What makes this ETF different, you ask? It gives investors both direct Solana exposure and staking rewards, making SOL attractive not just as a growth coin but also as a way to earn extra income by staking 💸.
A Breakout of Epic Proportions: $2000, Here We Come?
The inimitable Ali Martinez believes Solana could be on the cusp of a major rally if it breaks above the key $170 resistance level 🔓. He points to a cup-and-handle pattern forming on the weekly chart, which often signals a strong upward move 📈. According to Martinez, if Solana clears the $170 mark, it could quickly rise to $200 or even $300 in the short term 🚀. But that’s not all—he also believes this breakout could trigger a much bigger bull run in the long term, possibly pushing Solana all the way to $2,000 🤯.
Right now, the Solana Fear and Greed Index is at 64, putting it in the “Greed” zone, which reflects growing investor confidence 📊. Will Solana reach for the stars? Only time will tell, but one thing is certain: the crypto market is always full of surprises 🎉.
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2025-07-14 12:37