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‘Solana ETF approval in 2025’ confirms Nate Geraci – SOL reacts
In a recent update, Nate Geraci, the president of the ETF Store, has sparked significant attention within the Solana (SOL) community by predicting that spot Solana ETFs will be approved in 2025. As a result, the cryptocurrency’s price is expected to react accordingly.
The predicted approval comes as a significant boost for SOL holders and investors, potentially leading to a surge in its value. The crypto-friendly government, combined with the resignation of United States Securities and Exchange Commission (SEC) Chair Gary Gensler, may have created an environment that fosters a positive sentiment towards approving Solana ETFs.
While the prediction has sent shockwaves through the market, SOL’s current price action is somewhat uncertain. According to technical analysis from AMBCrypto, the cryptocurrency appears bullish and poised for an upside rally. This assessment suggests that if SOL manages to breach its symmetrical triangle pattern and close a daily candle above $196, it could potentially soar by 18-20%, reaching the $233 mark in the near future.
It’s worth noting that investors have started taking notice of this prediction, with recent data revealing an inflow of $9.5 million worth of SOL onto exchanges within the last 24 hours. This substantial inflow may indicate that long-term holders are selling their holdings, potentially creating selling pressure and leading to further price declines.
On the other hand, intraday traders seem to be betting on a surge in SOL’s value, as demonstrated by Coinglass data showing that 60.71% of top traders currently hold long positions, while 39.29% hold short positions.
Source: ambcrypto.com
