Solana Bubble Maps Turn Neutral – Is This The Setup For A SOL Summer Rally? 🌞
Solana (SOL) has experienced a 6.6% increase over the past week, sparking optimism for a potential rally to new all-time highs. This positive outlook is supported by strong fundamentals and bullish technical signals.
According to CryptoQuant analyst burakkesmeci, SOL is in a cooling phase on both spot and futures Bubble Maps. These maps visualize volume data, with color indicating volume change intensity.
The impending approval of a Solana ETF by the SEC could act as a catalyst. Eric Balchunas noted Solana might lead an "altcoin ETF summer." Polymarket predicts a 91% approval probability by 2025.
Technically, if SOL surpasses the $200 mark, a bull run could multiply the price 5x to 10x, according to analyst Ali Martinez. Despite optimism, on-chain data warns of potential selling pressure.
Currently trading at $167.30, SOL's prospects remain promising, though caution is advised due to possible pressures.
Source: www.newsbtc.com ↗
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