Solana Eyes Breakout Amid SEC ETF Delay, Could Rally to $360
Solana (SOL) is trading around $193.67 as it approaches a critical resistance level. Analysts predict that overcoming this barrier could trigger a fresh price surge toward $360. Despite the SEC’s postponement of a Solana ETF decision until October, experts believe the delay will have limited impact on market psychology.
A mild pullback from the current level may offer a last buying opportunity before the anticipated breakout. Technical indicators and overall market support back the bullish thesis. Historically, breaking a key resistance level has led to rapid upside momentum in SOL’s price.
Solana’s movements are also influencing broader crypto trends, with other assets often mirroring its direction. Traders should monitor market volatility and regulatory updates closely. Fundamental and technical analyses combined suggest that a successful breach of $193.67 could mark the start of a significant upward trend for SOL.
Bullish
The outlook is bullish because Solana is on the verge of breaking a key resistance at $193.67. Historical trends show that surpassing such levels often leads to accelerated rallies. The SEC ETF delay has limited psychological impact, and technical indicators alongside market support underpin the positive case. A mild pullback may attract buyers, fueling momentum toward the $360 target. Similar breakouts in SOL’s past have triggered sustained uptrends, suggesting strong upside potential in both the short and long term.