Grayscale’s Solana ETF Positive aspects SEC Consideration – What’s Subsequent for SOL Worth?…

The worth just lately examined the decrease boundary of the channel, close to the $173.42 help zone, on a big 4h candle wick, however closed above it.. This stage has held firmly, indicating potential demand accumulation. A break above the channel’s higher boundary, presently close to $200, may verify a bullish reversal, concentrating on the zero.618 Fibonacci stage at $216.90, adopted by the zero.5 retracement at $231.72.

The Relative Power Index (RSI) is recovering from oversold circumstances, presently hovering round 40, suggesting that downward momentum is weakening. Nonetheless, for a confirmed development shift, RSI should break above 50 with growing bullish quantity.

SOL Worth Prediction 

The 1-hour chart offers a extra detailed view of the potential reversal setup. SOL seems to have accomplished a five-wave impulse construction retesting the channel’s resistance. A pullback adopted however the value continues to be at a better low than it was on Feb. three  presenting two potential outlooks.