Solana Nears $159 Resistance Amid Rising DEX Volume and Upcoming Staking ETF Launch

Key Points

1. Solana is repeatedly testing the $158–$159 resistance level, with a potential breakout possibly leading to a rapid advance toward the $160–$165 range.

2. Solana's decentralized exchange (DEX) volume has increased, enhancing market depth and liquidity, which supports more sustainable price advances.

3. The launch of Solana's first Staking ETF on July 2 allocates over 50% of its holdings to on-chain staking, offering investors exposure to staking rewards within a regulated framework.

4. The ETF launch is expected to benefit Solana ecosystem tokens like JTO, potentially fostering greater liquidity and market sentiment.

5. Analysts highlight the $159 resistance level as a decisive factor for Solana's next phase, with failure to surpass it possibly leading to extended consolidation near the $149.82 support level.