SOL Dey Rise on Top Treasury Buy Dem and $100M Staking ETF Money Weh Dey Enter
Solana SOL price don gain momentum as REX-Osprey Solana staking ETF hit $100 million for Assets Under Management (AUM) within 12 trading days after e launch for July, wey attract institutional investors wey dey find on-chain staking rewards. Meanwhile, DeFi Development Corp don increase their treasury to 999,999 SOL by acquiring 141,383 SOL between July 14 and 20, plus another $5 million dem reserve for future buying. Dis treasury accumulation plus staking ETF inflows make SOL rise pass $200, markin 25% gain for the week. Technical analysis show resistance dey for $209 and support for $185, if e breakout pass $209, e fit reach $240, but if e fall below the 20-day EMA near $172, e go spoil the bullish plan. For four-hour chart, short-term pullback wey go under the 20-EMA fit find support for $185 to bounce back, but if e break below 50-SMA, e fit extend corrections go near $170. Overall, strong ETF inflows plus treasury buys point to good bullish outlook for SOL price.
Bullish
Di kombain news wey talk say dem dey gather plenty treasury plus di quick staking ETF inflows fit put betta confidence on SOL price for short and long term. For short term, di money wey enter REX-Osprey’s Solana staking ETF dey create immediate buy demand and e dey reduce how many tokens dey enter market cos dem lock am for staking. Also DeFi Development Corp buy tins from market, e go comot more SOL, tighten supply well well. These tins fit help make SOL price break pass di key resistance wey dey $209, fit push am go $240. If price fall small, di support wey dey $185 and 20-day EMA wey near $172 fit be better place for buyers to enter. For long term, if more big institutions dey use staking reward products, e mean demand go strong and price no go change anyhow, because investors go dey get staking yield and dem no go dey sell anyhow. All these tory show say SOL get better chance to go up more.