Solana Price Soars 10% Ahead of First SOL ETF Launch Tomorrow

Solana price has climbed 10% in the last 24 hours as market sentiment turns positive. The surge follows a broader crypto market rebound and a bullish Federal Reserve policy update. Traders are now eyeing further gains as the first Solana ETF prepares to launch tomorrow, potentially driving additional momentum for the asset.

Solana Price Rises 10% Awaiting Tomorrow’s SOL ETF U.S. Launch

Solana price increased 10% as traders anticipate the first-ever Solana futures ETFs launching in the U.S. on Thursday. Volatility Shares will introduce these ETFs on Nasdaq, allowing more institutional participation in the Solana market.  

This development has fueled strong buying activity, signaling optimism among traders ahead of the launch. The ETFs will track Solana futures, marking a significant step for crypto investment products in the U.S. market.  

With heightened interest, analysts speculate on whether this launch could drive a bullish trend for Solana. Investors remain watchful as the market prepares for a new phase in Solana trading.

Will the Bullish Momentum Continue for Solana Price?

The latest Solana price has surged over the past 24 hours, showing notable upward momentum. 

The SOL price is currently hovering around $133, reflecting a 10% increase following the crypto market recovery. The BTC price is trading above $85k, while ETH hovers above $2k, fueling the surge. 

The top altcoin has been trending upwards in a clear channel, aiming for key resistance near the $140 mark.

Technical indicators confirm this positive momentum. The Moving Average Convergence Divergence (MACD) shows bullish signals, with the MACD line at 0.98, surpassing the signal line of 0.48. 

This suggests strong buying interest. Moreover, the Chaikin Money Flow (CMF) stands at 0.21, indicating a positive capital flow into SOL.

The first target for Solana price prediction would be around $140, which aligns with the recent resistance level. A successful breakout above this level could see the price rise towards $150, a significant psychological resistance zone. If the bullish trend continues, the next target could be $160. 

If the price faces significant downward pressure and breaks below $130, the next support level to monitor is around $120.

Final thoughts, the recent Solana price surge, combined with the anticipation of the first ever ETF launch, suggests a bullish outlook. Traders remain optimistic as they watch for continued momentum. The coming days will reveal whether the rally can maintain its strength and push Solana to new highs.