Solana Weekend Forecast: VanEck ETF Filing To Help SOL Reclaim $200?

Juhi Mirza
Source – Forkast

Solana is undoubtedly one of the most promising crypto coins out there. Recently, VanEck, the investment giant, filed for Solana ETF, taking the cryptocurrency realm by storm.

With Bitcoin and Ethereum ETFs already in the mix, if approved, Solana ETFs can usher in a monumental age for crypto enthusiasts to bask in and enjoy. At the same time, such positive development is bound to trigger a new price action for SOL, which may help Solana reclaim a new price high very soon.

Also Read: Solana June End Prediction: Solana Blinks To Help SOL Cross $180?

VanEck Solana ETF

Solana Logo on Geometric Background
Source: WatcherGuru

On Thursday, VanEck filed for a Solana ETF. The application was a pleasant surprise amid the ETF frenzy that has lately been sweeping the cryptocurrency sector away.

ETFs are traditional trading instruments, dubbed funds, that trade on exchanges, generally tracking the underlying index. With Solana ETFs in the mix, the cryptocurrency sector is experiencing a new wave of potential change that can usher in a massive influx of people into the sector.

However, pending approval, the filing of the Solana ETF has already started to initiate heavy-weight discussions. Several crypto analysts tweeted how the SOL ETF development is set to help Solana secure a new ATH very soon.

The first Solana ETF application has been submitted by none other than @vaneck_us. This is the momentum that @solana needed to break past the levels it’s currently ranging between since the March giga pump. $SOL under $200 is a gift from the crypto gods, and even at that price, it’s heavily undervalued. Get ready for meme coins to start sending.” One user shared

Solana Weekend Prediction

Per CoinCodex, Solana may surge and spike by 16% by the end of June or mid-July to trade at $173.

“According to our current Solana price prediction, the price of Solana may rise by 16.25% and reach $173.57 by July 27, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 40 (fear). Solana recorded 12/30 (40%) green days with 9.41% price volatility over the last 30 days.”

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Furthermore, as predicted by CC, Solana may regain its former valuation of $150 by July 4.

“The Solana price for the next 30 days is a projection based on the positive and negative trends. Based on these Solana projections, SOL will be changing hands at $150.54 on July 4, 2024, gaining 0.83% in the process.”