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“Solana ETF Approval in 2025” Confirms Nate Geraci – SOL Reacts
As the crypto market continues to navigate uncertainty, a recent prediction by Nate Geraci, president of the ETF Store, has sent shockwaves through the Solana (SOL) community. In a bold move, Geraci expects spot Solana ETFs to be approved in 2025.
The news has sent SOL’s price into a tailspin, sparking both excitement and skepticism among traders. As the market struggles to find its footing, investors are left wondering whether this approval will have any significant impact on the token’s value.
According to AMBCrypto’s analysis, Solana’s technical chart suggests that it is poised for an upside rally. The formation of a symmetrical triangle pattern indicates a potential breakout above $196, which could propel SOL by 18% to 20%, reaching the $233 mark in the near future.
However, recent on-chain data reveals that long-term holders may be selling their holdings, leading to further price declines. This is evident from an inflow of $9.5 million worth of SOL onto exchanges over the past 24 hours. The influx of funds could potentially trigger a price drop, contradicting Geraci’s initial prediction.
The sentiment among traders remains bullish, with 60.71% holding long positions and only 39.29% taking short positions. This stark contrast highlights the potential for both significant gains or losses depending on market conditions.
As investors weigh in on this development, it remains to be seen how the Solana ETF approval will affect the token’s price trajectory.
Source: ambcrypto.com
