Solana Price Prediction: Will ETF Momentum Push SOL $200 Breakout and 10X Surge?

Key Insights:

• Solana price forms bullish flag and inverse H&S with a breakout target of $295.
• Analyst note SOL breaking above $200 could catalyze a major 5X to 10X bull run
• Canary Marinade ETF adds staking to SOL exposure, fueling institutional demand.

Solana price formed a bullish flag and inverse H&S with a breakout target of $295. Analyst notes SOL breaking above $200 could catalyze a major 5X to 10X bull run. Institutions are eager to join since Canary Marinade ETF gives investors a new option for SOL staking. In the past 24 hours, open interest went up 8.3%, and the ratio, which favors bulls, stood at 1.67.

Solana Price Eyes $1,000 From Cup and Handle Breakout

Analyst Ali Martinez identified a textbook cup and handle structure on the Solana long-term chart. The recovery process took several months to complete and revealed a rise in prices from the low they reached earlier. Solana price is trapped within a narrow channel that could lead to a movement soon.

Notably, Martinez calculated a projected target of $1,000 using the cup’s depth. To confirm this pattern, SOL price must break through the $200 mark with strong volume. Until then, the price remains compressed within the handle zone.

So long as Solana price stays above $168, the middle of the range, the market is still supported. If Solana price duplicates its 2020 growth pattern, it would provide the basis for a big rally. This adds historical weight to the bullish outlook.

Inverse H&S and Bull Flag Signal $295 SOL Price Rally

Furthermore, analyst Lucky has highlighted two shorter-term patterns reinforcing Solana price setup: a bullish flag and an inverse head and shoulders. The two lines come together at about $185, and the price might rise up to $295.

Interestingly, a close above this neckline would validate both formations. The RSI is diverging upward, and the number of buyers is rising at the current lows. Accumulation is typical of a flag continuation pattern, while a head and shoulders pattern indicates a potential reversal.

Lucky’s target lines up with what the chart patterns have been showing. Analysts believe that a break through the previous high and a daily close over $200 would lead to the next stage. The level helps determine whether Solana price will keep consolidating or discover the next trend.

ETF Filing Adds Institutional Catalyst

The Canary Marinade ETF filing is the first U.S.-based product to include staking rewards from Solana. If approved, institutional investors will be able to stake their SOL tokens on Marinade Finance, a SOC 2-compliant protocol that does not hold their funds.

The ETF provides a way to gain from Solana price changes and earn passive income, making it preferable for funds interested in earning digital assets. Funds using the structure stand out from standard spot ETFs, which do not award rewards for your assets.

The regulator is reviewing the filing, and the outcome is scheduled to be announced on July 24. Market forecasts assign a 79% chance of approval. If greenlit, it could set a precedent for staking integration in ETFs and open Solana to pension funds, insurers, and sovereign wealth capital.

Institutional demand for yield-generating assets continues to grow. Within the past weeks, there has been a rise in interest in Solana ETFs, as traders reflected the ETF’s approval chances by raising the prices.

Coinglass Derivatives Data Backs Bullish Momentum

Coinglass data indicated that in the past 24 hours, Solana’s open interest increased by 8.3% and is now worth $915 million. As prices were always on the rise, more buyers were entering the market rather than those who were short on the build.

The funding rate has risen to 0.015%, showing that a lot of traders are positive about Solana price. Some traders add funds to maintain an open position for a longer term. According to Coinglass, the long/short ratio is 1.67, meaning that traders are choosing to go long on the top exchanges.

In the recent period, liquidations for shorting were worth $3.1 million. In contrast, long liquidations totaled just $0.9 million. Overcoming the resistance level could cause shorts to feel more pressure and might result in more liquidations.

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