Solana (SOL) Price May See Upside Potential Amid SEC Delay on ETF Approval

Key Points

1. Solana's price recently faced resistance near the 50-day simple moving average at $154 but found support at the 20-day exponential moving average around $149, preventing a deeper correction.

2. A breakout above $159 could propel SOL toward $168 and potentially $185, while a drop below $144 may lead to further declines to $137 and $130.

3. The SEC's delay in approving Fidelity’s spot Solana ETF introduces a 21-day window for stakeholder input, which could influence the final decision and market dynamics.

4. Technical patterns, such as the bearish descending triangle on the 4-hour chart, suggest a potential drop to $129 if support at $144 is lost, but a breakout above resistance could negate this pattern.

5. Investors should monitor key resistance ($159) and support ($144) levels, as well as regulatory developments, to gauge SOL's future price trajectory.