Solana Price Prediction: This Solana Meme Coin Explodes in Presale as Analysts Ask If SOL ETF Is Next

adminMay 23, 2024

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Solana price fell 1% in the last 24 hours Traded for $177.7 As of 2:42 a.m. EST, trading volume was down 11% to $3.5 billion.

The SOL price drop comes amid speculation about whether regulators will approve future Solana spot ETF trading. CNBC contributor and cryptocurrency enthusiast Brian Kelly created some excitement on the matter by saying that a spot SOL ETF would be the next step.

Kelly’s comments follow growing market expectations that a spot Ethereum ETF would soon be approved. Bloomberg ETF analysts now predict a 75% chance of the ETH ETF being approved. This is down from the previously “very slim” odds.

new: @CNBC The guest predicts that point. $SOL ETFs are probably the next step
pic.twitter.com/jUtWXkilGT
— Degenerate News 🗞️ (@DegenerateNews) May 22, 2024

This month, the price of Solana continued to rise, reaching $188. gecko terminal It shows.

Competitor SOL is trading lower following news of a possible spot ETH ETF approval.

A slight retracement from the previous day brought SOL down to the lower boundary of the channel. This is because the bulls aim to push the price to overcome $188 resistance.

Solana price aims to violate the upper boundary of the rising channel.

Key indicators suggest that SOL is poised for a sustained bullish rally in the rising channel. SOL is trading well above the 50-day and 200-day simple moving averages (SMA), at $170 and $151 respectively, providing ample support for the rally.

Solana price chart analysis source: GeckoTerminal.com — SOLUSD Chart Analysis Source: GeckoTerminal.com

Moreover, the Relative Strength Index (RSI) is currently trading at 52, having rebounded from the 50 mid-line level. Sustained bullish momentum could push the RSI upward, indicating strong buying pressure.

Solana Price Prediction – $200 Spotlight

Solana price analysis on the 4-hour chart shows a bullish bias to take advantage of the rising channel pattern to push the price towards $200.

The 50-day SMA also crosses above the 200-day SMA, forming a golden cross at $147. A golden cross can encourage bulls to push SOL towards its target.

However, if the bears put pressure on this level, the bulls could pull back towards the important support level of $170. If bears break this line, bulls could find additional support at $151, which would act as a buffer against downward pressure.

With Solana price aiming for a breakout, investors are flocking to the new Solana meme coin pre-sale Sealana (SEAL), which just raised over $2.5 million.

According to cryptocurrency analyst and YouTuber Crypto Boy, $SEAL has the potential to skyrocket 100x after launch.

Sealana Meme Coin Heads for $3 Million – What is the Best Solana Meme Coin to Buy?

that much SEAL (SEAL) The character is based on a plump seal completely submerged in the Solana Sea. teaHis once smooth and agile personality became so absorbed in the Degen deal that he abandoned the early semblance of his youth in favor of a diet of chips and canned tuna.

New Meme Crypto ‘Sealana’ Attracts Whales As Solana Price Recovers
#SolanaMemecoin pic.twitter.com/zqP73U7Mk3
— Tech Story (@TechStoryin) May 5, 2024

Similar to the Slotthana pre-sale, Sealana is a ‘Send SOL’ launch with no timers, stages, hard caps or white papers. Since the ICO can end at any time, now is the perfect time to buy.

To participate in the pre-sale: Visit the official website to purchase SEAL tokens here.. One $SEAL costs $0.022.