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The Solana price has decreased by 2.6 % in the past 24 hours for trading at $ 171 from 12 pm EST on a 43 % pump in trading volume to $ 4.39 billion.
This decline comes at the Sol price, although Franklin Templeton offers a S-1 bulletin with SEC to Solana ETF (exchange box).
This step emphasizes a wider direction as the main asset managers, including Gray, BitWise, and Vaneck, seek regulatory approval of Solana’s investment products with the growth of institutional adoption.
🚨 Breaking: Franklin Templeton, 1.46 American asset manager, officially presented S-1 to Solana meal $ Sol ETF. pic.twitter.com/qty8yc6dua
– Solanafloor (Solanafloor) February 21, 2025
This increased demand highlights the increasing confidence in the capabilities of the Solana Market and has turned towards diversifying encryption offers outside Bitcoin.
Joe Dipasquale, CEO of Bitbull Capital, confirmed that asset managers will expand their investment products because organizational conditions become more appropriate.
Solana Price tests the main support at a price of $ 170 in a declining channel and a potential reverse
The Sol/USDT chart displays an interesting preparation, showing Habboudia and Saleh signs. Currently, the price is Trading at $ 170.83With a daily domain of $ 168.07 – $ 172.76, which reflects 1.12 % profit.
The most prominent style on the graph is a dumping channel that has controlled the movement of prices since Sol reached nearly 280 dollars. However, the price is now testing a strong support level of about $ 170, which coincides with the formation of a dual bottom, indicating a possible reflection.
Solusdt analysis: Tradingview
A rewarding curve that formed between November and December led to a strong gathering, but this was followed by a corrective stage, where Sol was circulated inside a landline channel. If the price successfully carries the support of $ 170 and is separated from the channel, this may lead to strong guidance.
The main resistance levels that must be monitored include $ 208.08 (its previous highest levels) and $ 266.34, which are in line with the Luxalgo Trendline. A successful collapse above these levels can pay about 280 dollars.
From the perspective of momentum, the RSI is currently located at 34.75, with the signal line at 37.96. This indicates that Sol is close to excessive sale conditions, which increases the possibility of a reflection.
If the price collapses over $ 175 to $ 180, this may confirm the outbreak of exports, with the price goals set at $ 208, 266 dollars and 280 dollars. On the downside, failure to keep $ 170 can be seen $ 150 in SOL, about $ 150 – $ 130.
The market is at a critical turning point, where Sol shows a powerful upward move if the declining structure is broken. Traders should monitor the confirmation above $ 180 before entering into long positions, while stopping the loss below $ 165 will help manage the risk of the negative side. If the dual lower pattern continues, this may start in a new ups in Sol.
Investors flow to buy Solana Layer 2 Towning 23 million dollars
With the low price of Solana, investors rush to seize Solaxy (SOLX), which is a Solana solution in layer 2 already raised $ 22.9 million in the previous period.
With the height of the Meme trading on the Solana pump.
You will start feeling feelings when entering Solaxy 🪐🛸 pic.twitter.com/jormaqojs2
– Solaxy 𝕏 (SolaxyToken_ht). February 16, 2025
Solaxy is designed to reduce congestion and treatment speeds on Blockchain.
The Sidechain layer offers layer 2 that treats transactions outside the chain before assembled and submitted to the Solana 1 layer for processing.
This approach reduces congestion, reduces transactions fees, and improves total efficiency.
An analyst of 99bitcoins, with more than 725,000 subscribers, expects that SOLX can 10x after its launch.
Investors can also earn bonuses up to 179 % annually, with more than 6.2 billion dollars of SOLX distinctive symbols.
Currently, $ SOLX is priced at only $ 0.001642 and can be purchased using ETH, USDT, BNB or SOL.
Buy before the price rise in less than 10 hours to lock the best deal.
Learn more about Solaxy here.
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