Analyst: Solana price returns to $74, approaching a major breakout zone

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CryptoWorld News reports that CoinJournal states Solana's price has rebounded above $74 after a period of sideways trading, approaching a key technical zone. The latest rally stems from the price gradually recovering from below $70, with recent prices compressed between $62.08 and $76.00, becoming the main battleground for buyers and sellers. Support levels near $69.50 and $62.08 have persisted, preventing deeper declines, while resistance zones from $76.00 to $83.00 have repeatedly rejected upward attempts. Short-term technical analysis indicates that the current rally may still be a correction within a larger bear market structure, with market analysis suggesting that if bulls fail to sustain momentum, the price could fall back quickly, with initial support at $69.50. $90 is seen as a structural breakout point; surpassing it could open space for $100 to $114, while failure to break through may trap the price in a correction environment. Morgan Stanley has submitted a spot ETF application for Solana and Ethereum, with a proposed management fee of 0.14%, indicating institutional interest in structured Solana exposure.
SOL-2.14%
ETH-0.18%
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SeaSaltAirdropParticipants
· 4h ago
The resistance band from 76-83 is quite thick; you need to push through to see 90.
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SnackFi
· 4h ago
Morgan Stanley has entered the market, and the SOL narrative needs to be upgraded.
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MistValleyFront
· 4h ago
0.14% management fee is quite attractive; institutions are starting to compete over fee rates.
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CalmWarehouseUnderTheAurora
· 4h ago
If 69.5 can't hold, then go back to 62, short-term still leaning bearish
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GateUser-16838403
· 5h ago
ETF application is a long-term positive, but don't expect an immediate rally.
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