⭕️PREVISIONE BEARISH PER ETF SOLANA

Giorno: 04 luglio 2024 | Ora : 20:00 Recent news of a Solana (SOL) ETF application caused the token's price to increase, but it couldn't sustain the momentum. The short-term outlook for SOL is bearish, with the price currently range-bound and experiencing sell-offs. However, GSR predicts that if a Solana ETF is approved, the token's price may reach $1,192 in the long term. The Cumulative Volume Delta shows that more SOL tokens have been sold than bought, and the price formation indicates a potential 4.65% decline. This prediction may be invalidated if buying pressure increases or if the token gets oversold. Additionally, a recent report suggests that the US SEC may not approve Solana ETFs due to the absence of a futures Solana ETF and past labeling of the token as a security.

The recent announcement of a Solana (SOL) ETF application had a positive impact on the token's price initially, but it was unable to sustain the upward momentum. Currently, the short-term outlook for SOL is bearish, with the price range-bound and experiencing sell-offs. However, GSR, a market analysis firm, predicts that if a Solana ETF is approved, the token's price could potentially reach $1,192 in the long term. Analyzing the Cumulative Volume Delta, it becomes evident that more SOL tokens have been sold than bought. Furthermore, the price formation suggests a potential decline of 4.65%. It's important to note that this prediction could change if buying pressure increases or if the token becomes oversold. In addition, a recent report indicates that the US Securities and Exchange Commission (SEC) may not approve Solana ETFs. This is due to the absence of a futures Solana ETF and the previous classification of the token as a security. The SEC's concerns about the regulatory framework and investor protection may hinder the approval of a Solana ETF. Overall, while there was initially a positive reaction to the Solana ETF application news, the short-term outlook for SOL is bearish. The potential approval of a Solana ETF in the long term could lead to a significant increase in the token's price, but the current selling pressure and regulatory challenges may hinder this outcome.