Solana ETFs Could Be Approved Without CME Futures: SOL Price Prediction
Solana (SOL), ranked 10th in cryptocurrency market capitalization, is trading strongly at $168.55, with an intra-day high of $171.64.
SEC Commissioner Hester Peirce's suggestion to approve Solana ETFs without CME futures markets has bolstered investor confidence.
Solana's expansion and market presence are supported by this development and Bitcoin price projections.
Effect of Solana ETF Approval on SOL Growth During the U.S. Elections, SEC Commissioner Hester Peirce indicated that Solana ETFs may be issued without the need for CME futures markets, the traditional need for crypto ETFs. This might simplify Solana's clearance procedure and enhance investor trust.
Recent ETF filings from VanEck and 21Shares indicate institutional interest in Solana's expansion. However, the U.S. elections may affect approval time. Bloomberg's Eric Balchunas observed that political shifts may affect SEC ETF approvals.
CME futures might simplify, boost investor trust, and increase Solana (SOL). However, the U.S. elections may delay its approval.
Lower interest rates may entice investors in Solana (SOL) cryptocurrency.
Solana (SOL) Price Prediction
Solana (SOL) fell 0.49% to $173.47 in 24 hours. A powerful bullish advance preceded this modest retreat.
A 2-hour chart is tracking Solana's price activity, emphasizing significant levels for traders. The key level is $167.45.
Resistance begins at $174.75 and rises to $179.49 and $184.88. Initial downside support is $163.10, followed by $162.62 and $155.48.
Technical indicators support bullishness. The RSI is 68.43, indicating significant buying activity but reaching overbought. At $163.10, the 50-day Exponential Moving Average (EMA) provides strong support.
The ascending channel signals Solana's bullish trend will continue. A breach over $174.75 might push SOL prices to new highs. Given technical signs and critical price levels, the prognosis is good.
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