Analyst Says New Filings Set Solana ETF Deadline for Mid-March 2025

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jul 09 2024

Should l Buy SOL?

Mid-March Deadline Set for Solana ETF Approval: CBOE filed applications for two Solana ETFs from VanEck and 21Shares, with a potential approval deadline around mid-March next year.
SEC May Target Celebrity Solana Meme Coins: Celebrities promoting Solana meme coins could face SEC scrutiny for securities law violations due to potential unregistered securities issues.
Lionel Messi Promotes Meme Coin: Soccer star Lionel Messi promoted a Solana-based meme coin called WaterCoin (WATER) to raise awareness for water-related issues.
Solana Shines in Africa: Solana has positively impacted the African crypto industry, with community efforts driving growth and adoption of blockchain technology in the region.
Environmental Impact of Blockchain Technologies: Blockchain technologies offer innovative solutions for environmental protection, such as tracking reforestation efforts and promoting sustainable mining practices.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	30.79	49.145	69.98	88.335	109.17	127.525	148.36
Fibonacci	49.145	64.116	73.364	88.335	103.306	112.554	127.525

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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