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Standard Chartered Looks to Gain SEC Approval for More Crypto ETFs as Solana Price Predicted to Increase 10x

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Solana (SOL) has been on a bullish trend, with its price reaching near $170 and hitting an intraday high of $170.26. This positive momentum has led to speculation and optimism, fueled by Standard Chartered’s interest in SEC approval for more crypto ETFs, including Solana. Analysts predict significant growth for Solana, with the potential to surpass $200 in the near future.

Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, predicts that cryptocurrency ETFs for Solana and XRP could be approved by 2025. Following the recent approval of Ethereum spot ETFs by the SEC, Kendrick believes that there is a precedent set for similar cryptocurrencies, potentially paving the way for XRP and Solana ETFs. This could lead to significant institutional investments in Ethereum ETFs, enhancing Bitcoin and Ethereum’s market dominance and possibly leading to further ETF approvals for other major cryptocurrencies.

Positive inflows into US Bitcoin ETFs have boosted investor confidence, following the approval of spot Ethereum ETFs by the SEC. US spot Bitcoin ETFs have seen ten straight days of positive inflows, totaling $251.94 million as of May 24. This trend highlights growing investor confidence in the cryptocurrency market, which could positively influence Solana’s price as market sentiment continues to improve.

Solana’s current trading price is at $165, with a modest increase of over 1%. The coin faces immediate resistance levels at $170.37, $176.66, and $183.26, while support levels are positioned at $156.75, $151.08, and $144.08. The Relative Strength Index (RSI) stands at 41.51, indicating neutral momentum, while the 50-day Exponential Moving Average (EMA) suggests a downward trend. Investors should closely monitor these key levels to gauge potential market movements.

As Solana continues its upward trajectory, attention is now turning to the Sealana presale, which offers investors a new opportunity to be part of the Solana ecosystem. Sealana, the chubby seal who has made a splash in the Solana Sea, is on a mission to find the next big Solana meme coin. The presale offers a chance to buy $SEAL at just $0.022 per token, with a current raise of around $3 million. Join the excitement and dive into the Solana ecosystem with Sealana.

In conclusion, the positive market dynamics, technical indicators, and predictions surrounding Solana suggest a potential surge in its price. With speculation around the approval of Solana and XRP ETFs by 2025, institutional investments, and growing investor confidence in the cryptocurrency market, Solana’s price could see significant growth in the coming months. Investors should stay tuned for developments in the Solana ecosystem and monitor key levels to make informed decisions.

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