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Solana (SOL) has surged past the $149 resistance level following a classic Cup & Handle breakout, signaling strong bullish momentum as ETF approval looms.
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Technical indicators such as the MACD crossover and RSI climbing above 50 reinforce the likelihood of a sustained upward trend toward $174.
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According to COINOTAG sources, the imminent approval of a Solana ETF could unlock significant institutional investment, potentially transforming market dynamics in July 2025.
Solana breaks $149 resistance with Cup & Handle breakout; ETF approval nears, setting the stage for a potential rally to $174 amid strong technical signals.
Solana’s Technical Breakout Signals Renewed Bullish Momentum
After consolidating for over a month, Solana has decisively broken out from a well-defined Cup & Handle pattern on the 4-hour chart, a classic bullish formation that often precedes strong upward moves. The critical resistance at $149 has flipped to support, with the price currently holding above $151. This breakout is further validated by a MACD bullish crossover and the Relative Strength Index (RSI) surpassing the 50 threshold, indicating growing buying pressure. Market participants should watch the $168 to $174 range as the next potential target zone if this support level remains intact.
Volume and Trendline Breaks Confirm Strength of the Move
Supporting this technical setup, Bluntz Capital highlights the breakout of a descending trendline on the 8-hour chart, accompanied by increased trading volume—an essential factor confirming the validity of the breakout. The price is also trading above the 50-day Exponential Moving Average (EMA) at approximately $151.48, which often acts as a dynamic support level in trending markets. Should bullish momentum persist, resistance levels near $160 and $172 will be critical to monitor for potential profit-taking or further acceleration.
ETF Approval Could Catalyze Institutional Inflows into Solana
Adding a fundamental catalyst to the technical optimism, regulatory developments suggest that a Solana ETF approval is imminent. A leaked communication indicates the SEC has no further comments on the REX Shares Solana ETF application, a strong signal that the approval process is nearing completion. Bloomberg ETF analyst Eric Balchunas has confirmed that REX has submitted a final letter addressing all SEC concerns, positioning the ETF for launch.
This ETF is notable for including staking features, which could attract institutional investors seeking yield opportunities alongside capital appreciation. The approval of such a product often leads to increased liquidity and price stability, as seen previously with Bitcoin and Ethereum ETFs. As July 2025 approaches, Solana stands poised to benefit from this influx of institutional capital, potentially driving sustained price appreciation.
Symmetrical Triangle Breakout Adds to Bullish Technical Landscape
In addition to the Cup & Handle pattern, Solana’s price has broken out from a symmetrical triangle that had been forming since late May. The convergence of resistance and support trendlines near $153 created a critical breakout zone, which the price has successfully surpassed. This breakout suggests that liquidity pools above $165 could become targets for buyers, further supporting the bullish case. Traders should remain cautious of volatility but recognize the confluence of technical signals favoring upward movement.
Conclusion
Solana’s recent technical breakout combined with the near-term prospect of ETF approval positions the cryptocurrency for a potentially significant rally. The confirmation from key indicators like MACD and RSI, alongside trendline and pattern breakouts, underscores a robust bullish setup. Meanwhile, the regulatory green light for a staking-enabled ETF could usher in substantial institutional investment, enhancing market depth and stability. Investors and traders should monitor the $149 support level closely, as holding above this zone is critical for targeting higher resistance levels between $168 and $174 in the coming weeks.
