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Coinshares submitted an S-1 Commission for Securities and United States Exchange (SEC) to start the Solana Fund (ETF) (ETF) in cash. This approach causes Coinshares to be the eighth company to present a sola -based ETF file.
In short
- Coinshares asked SEC to start the ETF Solana (Ground) in cash, thus becoming the eighth company to stand on this niche.
- The solana price recently jumped by more than 5 %, transmitted by a growing market interest and solid foundations.
- Technical analysis proposes a possible break over $ 157, with price goals located between $ 250 and $ 270.
Coinshares joins the race for ETF Solana
The demand appeared several days after several large asset management companies, especially Vaneckk, Sparked, Franklin Templeton, Bitwise and others, updated their own ETF deposits to include evoking functions. Fidelity also filed an application on the same day and emphasized the growing institutional interest in regulated investment products Solana, despite the signs ETF approval may take longer than expected.
The Coinshares decision to enter the race confirms the growing attention, which Solan raises as assets of assets.
Bloomberg Analysts See ETF Solana approval as immediate
10th June Bloomberg Analysts James Seyffart and Eric Balchunas said Solana could be another cryptocurrency that would receive ETP in cash. They also suggested that wider crypt tracks could get dry approval in the next month.
Eric thinks that SEC could quickly act on ETF Solana in cash and to become recent attempts such as Rexshares and Osprey, to the market for Solana products and inserting through legal bypass.
Balchunas noted that many were wondering whether the CEO of Blackrock, Larry Fink, also applied for ETF Solan. However, he admitted that there was no clear hint and no privileged information.
Momentum Solid Fundamentals Solana
The solana price increased by more than 5 %in 24 hours, reflecting growing confidence in the foundations of the token. This was supported by several key developments that occurred at the same time, in particular:
- Bybit started Dex on the sole, focused on stimulating liquidity Deff
- The volume of exchanges has popped up more than 80 %, which indicates a strong market activity
- Memmettegy bought 2,440 land worth 2.9 million HKD
In the middle of this development, Solana is now negotiated around $ 156, supported by technical factors and institutional interests.
Technical indicators report a possible price break
Solana recently reflected from the support area of nearly $ 143.65 and heads for resistance around $ 157
If the token exceeds this level and keeps it, it could focus on the new price around 201. This projection reflects an increase of 38 % on the basis of the previous break.
The relative force index (RSI) is currently around 48.14, which indicates neutral momentum. However, it reminds of the occurrence zone and begins to show an ascending trend. The RSI Mobile diameter also appears up, indicating that the market can lean in favor of buyers.
Global birdness remains bull. Solid movement and fence over $ 157 would support the thesis of other profits. On the other hand, a fall under a fork 143–140 $ can weaken the configuration and lean the momentum down.
The analyst Crypto “World of Grafs” also shared prospects and said solana seems to be ready for a new rally. According to his analysis, the token consolidates for the reasons of Haussier Pennant.
If the token leaves this structure, the price could increase around $ 185, which is a key horizontal level of resistance. The analyst added that if Solana reaches a daily fence over $ 185, he could potentially increase up to $ 250 in the coming days.
His chart shows that Solana left a strong trend in April, then increased by 51 %. Since then, the price has been enshrined between $ 130 and 160. This suggests that the whales accumulate before a possible break.
If the price exceeds $ 157 to 160, it could quickly jump between $ 250 and $ 270. This would be an increase in approximately 60 % compared to the current level.
All eyes now turn to a dry response to these bearings. The approval of ETF Solana in cash would be the main step and could trigger further movement with a high price for Solan.
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IFOLOWA specializes in writing and marketing Web3, with more than 5 years of experience in creating bright and strategic content. In addition, it trades in crypt and is qualified in performing technical, basic and chains.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.