The Solana price tumbled 2% in the last 24 hours to trade at $174.35 as of 04:21 a.m. EST on trading volume that slumped 20% to $2.65 billion.
This comes as Canary Capital filed to launch a spot Solana ETF (exchange-traded fund), joining other hopefuls such as VanEck and 21Shares.
Solana Price Could Continue Soaring
The Solana price has been on a sustained bullish trend within a rising channel pattern as the bulls capitalized on the $136 support level, according to data from GeckoTerminal .
The sustained positive trajectory has resulted in the price of Solana trading above both the 50-day and 200-day Simple Moving Averages (SMAs), an affirmation of the continued upward trend.
Meanwhile, the Relative Strength Index (RSI) is trading within the neutral zone, currently at 46, which shows that the price still has space to soar even higher.
In a bullish scenario, if the bulls sustain the current momentum, the price of Solana could soar even higher, currently targeting $200.
SOLUSD Chart Analysis Source: GeckoTerminal.com
However, if the market turns bearish, the 200-day SMA could act as the next possible support level at $156.
As the Solana price aims for a continued bullish rally following the SOL ETF filling, some investors are turning to presale meme coins like the newly launched Flockerz (FLOCK) , which has surged past $1.18 million in funds raised.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, $FLOCK has the potential to soar 100X after its launch.
Flockerz Raises Over $1.18 Million In Its BlockBuster Presale
Flockerz ($FLOCK) is a new meme coin project emphasizing true decentralization through a community-driven governance system called Flocktopia, where all token holders collectively make decisions about the project’s future.
It uses a vote-to-earn (V2E) model that rewards users for participating in governance, aiming to create an inclusive and engaging environment.
Apart from VTE rewards, users can earn passively through the platform’s staking mechanism, which offers a towering annual yield of 1,420%.
To join the presale, you can buy $FLOCK on the official website here for $0.0059098 per token using BNB, ETH, or USDT. You can also make a purchase using your bank card.
Buy before a price hike in less than three days to secure the best deal.
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