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The Solana price climbed 3% in the last 24 hours to trade at $146.41 as of 00:44 a.m. EST on trading volume that rose 12% to $2 billion.
This comes as asset manager VanEck says that its plans for a Solana ETF (exchange-traded fund) are “still in play,” despite the removal of Cboe Global Markets’s regulatory filing that was proposing to list the fund on its exchange.
According to Mathew Sigel, VanEck’s head of digital assets research, some have noticed that the 19b-4 for the VanEck Solana ETF has been removed from the CBOE website.
Some have noticed that the 19b-4 for the VanEck Solana ETF has been removed from the CBOE website.
Remember that Exchanges like Nasdaq & CBOE file rule changes (19b-4) to list new ETFs. Issuers like VanEck are responsible for the prospectus (S-1). Ours remains in play. https://t.co/9rbSHciSdy— matthew sigel, recovering CFA (@matthew_sigel) August 19, 2024
VanEck also believes that SOL is a commodity, much like BTC and ETH.
Solana Price Aims For A Breakout
The Solana price has been trading in a sideways pattern, as the bulls encounter resistance around $152, according to data from GeckoTerminal.
SOL trades above the 50-day Simple Moving Average (SMA), indicating that the token is currently on a bullish trend to the upside. If the bullish trend continues, the price of Solana could overcome the immediate resistance (200-day SMA) at $159.44.
Moreover, the Relative Strength Index (RSI) is rebounding from the 50-midline level, currently at 57, as it closes in on the overbought zone.
The Moving Average Convergence Divergence (MACD) has also crossed above the neutral line, confirming an uptrend. The green bars on the histogram extending over the zero line and the blue MACD line crossing over the orange signal line show that SOL is currently in positive momentum.
Based on the SOL/USD analysis on the 4-hour chart, the token shows a bullish bias. The bulls capitalize on the major indicators to prompt a breakout above the consolidation phase. If the trend continues, the price of Solana could soar as the bulls target the next resistance at $183.94.
However, if the bears take control of the price at this level, SOL could plunge below the sideways pattern, to find support around $128.92.
Meanwhile, as the SOL price climbs, the new, innovative meme coin Crypto All-Stars (STARS) is going ballistic after raising more than $500k in its first week.
According to 99Bitcoins, a YouTube channel with over $706K subscribers, $STARS could potentially soar 100X after its launch.
Crypto All-Stars Presale Secures Over $561K In A Week – Best Meme Coin to Buy Now?
Crypto All-Stars is off to a roaring start in its presale, having already raised over $561,000 in just its first week of launch.
The new project keeps the fire alive in the meme coin sector by offering its tokens a new utility: passive income generation via unified staking.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
Crypto All-Stars introduces an industry-first capability by allowing top meme coins in the space, such as Dogecoin ($DOGE) and Pepe ($PEPE), to be staked together. That enables holders to earn a singular reward – the native $STARS token, through the MemeVault protocol.
Crypto All-Stars allows you to stake meme coins such as Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More will be added in the coming months.
You can earn passively through the project’s native staking mechanism, which offers an impressive 2,709% annual percentage yield (APY).
You can buy the token now for $0.0013911. The price will increase in less than 2 hours, so act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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