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Trading King

06/23 04:29

Solana faces $75 hurdle - Can strong ETF demand pu

#World Cup Predictions: 100,000 USDT Daily #2026 World Cup Posting Challenge on HTX Square #HTXCommunity4thAnniversary Solana faces $75 hurdle - Can strong ETF demand push SOL higher?Solana [$SOL] rebounded above the $70 mark with price up by about 2% in the past 24 hours at press time, amidst a wider market recovery. Notably, the daily trading volume was up more than 20% to around $2.20 billion. Solana's rally began late last week after a TD Sequential buy signal, lifting the price about 8% from $68 to $74. However, momentum now appears to be shifting on shorter timeframes. Solana indicator flashes sell signal As the price of Solana rises above $70, it encounters a heavy resistance at $75, which could be a hurdle to this recovery. Moreover, the TD Sequential has flashed sell on the 4-hour timeframe as it tests its resistance trendline. The resistance is coinciding with the 200 SMA, showing its a strong area of supply. As such, it could suggest that $SOL is about to undergo a minor pullback to $72 or even lower levels.However, $SOL remains structurallybullish in the near-term. In fact, Solana was showing more strength than Ethereum [ETH], explaining why its Solana ETFs inflows and network activity remain strong contrary to what the charts could do.
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