Solana Shows Potential Breakout From 4-Year Pattern Amid Rising Volume and ETF Interest

Key Points

1. Solana breaks out from a 4-year cup and handle pattern around the $171 level, indicating renewed buying pressure.

2. Key resistance levels include $263, with Fibonacci retracement targets at $787 and $1,314, and a long-term target near $2,700, implying a possible 1,500% increase.

3. ETF demand is rising, with a 99% probability of a spot SOL ETF approval before the end of 2025, boosting institutional interest.

4. Solana's trading volume surged to $20.09 billion in 24 hours, and its market capitalization reached $95.41 billion, reflecting strong momentum.

5. Institutional investors, like DeFi Development Corp, are increasing exposure to SOL, and regulatory advancements may further support the market.