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‘Solana ETF approval in 2025’ confirms Nate Geraci – SOL reacts
In a recent statement, Nate Geraci, president of the ETF Store, has made a bold prediction regarding the future of Solana (SOL). According to his claims, Solana spot ETFs will be approved by regulatory bodies in 2025. As a result, the price action and sentiment surrounding SOL have been impacted.
Geraci’s statement has sent shockwaves through the cryptocurrency community, with many speculating about the potential impact on SOL’s value. Should this prediction come to pass, it is likely that we would see a significant increase in demand for SOL, as institutional investors and traditional traders become more confident in entering the market.
In light of these predictions, our analysis suggests that SOL’s current bearish sentiment may be poised to reverse course. According to TradingView data, the asset has formed a symmetrical triangle pattern, which is set for a breakout above $196. Should this occur, SOL could potentially surge by 18% to 20%, reaching as high as $233 in the near future.
On-chain analytics firm Coinglass reveals that top traders are currently holding long positions on SOL, with a ratio of 1:45. This data indicates an overwhelming bullish sentiment among traders, which aligns with Geraci’s prediction about ETF approval. As it stands, 60.71% of these traders hold long positions, while only 39.29% hold short positions.
In conclusion, the potential approval of Solana spot ETFs in 2025 could have significant implications for SOL’s price action. The prediction has sparked a strong reaction within the community, with many anticipating a reversal in sentiment and subsequent upward movement. As we move forward into 2025, it will be crucial to monitor these developments closely to gauge the accuracy of Geraci’s claim.
Disclaimer: The content provided by AMBCrypto.com is meant to be informational only and should not be taken as investment advice. Trading, buying or selling cryptocurrencies involves significant risk, and readers are advised to do their own research before making any decisions.
Source: ambcrypto.com
