#BTC #SOL 25.01.16 Market Overview:

SOL has been sluggish, falling out of the top three and now ranking sixth; are the institutions still absorbing at the bottom, waiting for new trends and hotspots to rise? Can the market value return to the top three?
The spot ETF application for SOL is being actively prepared by various institutions. It is estimated that the first SOL ETF approved by Grayscale will be as early as March, especially since the new SEC chairman is a former SOL shareholder and a crypto enthusiast. The spot ETF is also quickly being put on the agenda, and SOL's spring is about to begin.
The daily chart of SOL seems to have formed a shark pattern, with BC completed, predicting the first target range for point D at 253.16-256.74; the second variant shark range at 264; the third variant shark range at 276.37-277.48. From the pattern, SOL is about to enter a range of volatility, with 225-227 being the maximum pressure range. If it breaks through, it will smoothly reach the first target range for point D. Successfully completing the bat pattern, SOL breaking the previous high to reach 277, its market value will also return to the top three. If the March spot ETF is approved, it will take off, and the target of 300-500 is not an exaggeration. Just hold the spot in hand.
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