Solana Summer Loading? SOL Eyes $180 Following Staked ETF-Fueled Breakout

Solana's price has surged, retesting resistance after recovering above $150, driven by news of an upcoming Solana-based staked ETF. Rex Shares is launching the REX-Osprey ETF on Wednesday, offering exposure to SOL and staking rewards. This announcement led to nearly $9 million in short position liquidations as Solana approached the $160 resistance. Analyst Daan Crypto Trades sees the need to reclaim the $159-$167 area for further gains, targeting the $180-$200 range. Concerns linger regarding the potential demand for Solana ETFs, drawing comparisons to the slow initial inflows of Ethereum ETFs. Analyst Hardy noted Solana's "clean breakout, clean retest, and pump" pattern, suggesting a possible run towards $200. Holding the $150 support is crucial for continuing the bullish trend, according to Hardy. Crypto Batman believes Solana is "setting up very nicely" after the $160 retest, pointing to a bullish flag pattern. A retest of the $148 area could set the stage for the next upward movement, according to Crypto Batman's analysis. Currently, Solana is trading around $155, showing a 2% daily increase.