VanEck Files for Solana ETF, classifying SOL as a Commodity
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#Solana's value jumped 6.50%, reaching $148, after VanEck revealed plans to introduce a spot Solana ETF.
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Since its yearly high of $210 on March 17, $SOL corrected by over 30%.
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On June 24, $SOL bounced back, forming a bullish candlestick and holding above a critical long-term horizontal support area.
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SOL retested the double bottom support near $120 during this month's sell-off.
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After rebounding from the $120 level, SOL reached a high of $151.20.
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However, bulls failed to sustain above the $150 resistance, causing a retreat back to $145.
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According to Coingabbar analysis, breaching $152 could propel SOL to test $180 and potentially set a new all-time high.
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If SOL fails to break above $152, it might initiate a correction with initial support at $140, and further downside could target $128.
KEY LEVELS :
RESISTANCE LEVEL : $152-$163
SUPPORT LEVEL : $135-$122
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