How high can SOL price go as the first Solana ETF goes live?
The launch of the first US Solana ETF, Bitwise Solana Staking ETF (BSOL), is fueling excitement and technical indicators suggest SOL's price could rally over 100% to $412.Summary
Solana's native token, SOL, is experiencing a price recovery driven by the debut of the first US-based Solana ETF, the Bitwise Solana Staking ETF (BSOL), trading on the NYSE. This ETF offers 100% direct exposure to spot SOL and includes built-in staking rewards. The launch is anticipated to boost SOL's price through institutional inflows, with JPMorgan predicting a Solana ETF could attract $3 billion to $6 billion in its first year. Technically, SOL's price action on the weekly chart suggests a bull flag pattern, where a breakout above $205 could target $412, representing a potential 104% rally. Furthermore, the Relative Strength Index (RSI) is increasing, indicating growing upward momentum, and analysts suggest a weekly close above $280 could trigger a massive rally toward $400-$500 this cycle.
(Source：Cointelegraph)