As the crypto market moves sideways, Solana (SOL) compresses between two key levels. Some analysts suggest that the cryptocurrency is about to break out and reclaim a crucial resistance level, which could trigger the long-awaited retest of the $200 barrier. Solana Holds Key Support After recovering from last month’s downtrend, Solana has been attempting to reclaim the crucial $160 level to continue its bullish rally. The cryptocurrency traded between the $140-$180 range for two months, but briefly lost its post-breakout range in late June. Two weeks ago, SOL fell below the $130 area, hitting a two-month low of $126 on June 22. Since then, the altcoin has recovered, fueled by last week’s launch of a Solana staked crypto Exchange-Traded Fund (ETF) in the US by Rex Shares. Following the news, Solana’s price jumped toward the $160 resistance level but was rejected, hovering between the $145-$155 price range for the past week. On Tuesday, SOL fell below the $150 level, hitting the $147 support before bouncing. Analyst Ali Martinez noted that the $147.59 area is one of the most important support levels for Solana, as losing this level could trigger a pullback to the next key zone around the $141 mark. Similarly, market watcher Man of Bitcoin affirmed that SOL’s key support to maintain is around $141.91, adding that “a sustained break below this level would suggest that wave-C of (ii) is already underway.” The analyst previously warned that there is a potential scenario “with one more low in wave-5,” if the cryptocurrency doesn’t hold about the $148 mark. However, maintaining this support would build a base to target the local highs. SOL About To Retest $160? Analyst Carl Runefelt from The Moon Show affirmed that SOL is “about to break off” a triangle formation and test the $162 resistance. As the price compresses between the upper and lower boundaries, the analyst suggested that the cryptocurrency’s breakout is around the corner. Notably, Solana has been forming a one-week symmetrical triangle pattern in the daily chart. If the cryptocurrency successfully breaks above the $152-$153 zone, it could see a 10.87% jump toward the technical target of $167. The Cryptonomist highlighted that SOL broke out of a multi-day diagonal resistance on Sunday, which was retested and confirmed as support after bouncing around the $147 twice since the breakout. The analyst considers that the cryptocurrency is preparing for a continuation of its rally, targeting the one-week high and resistance of $160. Meanwhile, Crypto Jelle noted that despite the April downside deviation, Solana continues to trade within its $125-$180 Macro Range, currently hovering around the mid-range. To him, “it looks like it’s just waiting for BTC to break out. Once it reclaims $160, $200 should come quickly. Above there, new all-time highs are within reach.” As of this writing, Solana is trading at $151.51, a 3.6% increase in the weekly timeframe.

In just two weeks, the market cap for tokenized stocks on the Solana network has jumped from $13 million to more than $48 million, according to CoinGecko. This kind of momentum shows a growing appetite for real-world assets that can be traded on-chain, without all the usual delays and restrictions of traditional markets. A tokenized stock is a digital asset that mirrors the price of a real stock, giving traders a faster way to access equities. Why People Are Paying Attention Tokenized stocks have been floating around for a while, but they’re starting to get real traction. The basic idea is to take a regular stock, like Apple or Tesla, and issue a token that reflects its value. These tokens let people trade shares using crypto infrastructure, skipping over brokers and banks and operating on a 24/7 schedule. That kind of flexibility is a big draw for users outside the usual market hours or in countries with limited stock access. Source: Shutterstock On Solana, the interest is picking up fast. The network’s speed and low transaction costs make it a good match for financial products that need to move quickly. Companies like Backed Finance and trading protocols like Jupiter have been helping bridge the gap between equities and DeFi tools. The stocks themselves are wrapped through regulated providers, meaning the tokens are backed by real shares held off-chain. Stocks People Actually Want Tesla and Apple are leading the pack. Their tokenized versions on Solana are seeing strong volume, especially from people who might not have direct access to U.S. markets. Other big names are getting pulled in too. You can now find tokenized versions of the S&P 500, Microsoft, NVIDIA, and others. These aren’t perfect replacements for owning the actual stock, since they don’t offer things like voting rights or dividends, but they track the price and give traders an easy way to get exposure. SolanaPriceMarket CapSOL$81.69B24h7d30d1yAll time Oracles and custodians keep the token prices aligned with the real-world market. It’s not a full replacement for the stock market, but it’s a fast and flexible alternative for people who want to trade without waiting for Wall Street to open. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Why Solana Makes Sense Solana has been building momentum for a while, and this fits right into that story. The chain’s ability to handle a lot of transactions quickly and at a low cost makes it an ideal place to test tokenized assets. While Ethereum has traditionally been the go-to for financial experiments, Solana’s performance and growing DeFi presence are putting it on the map. This also comes as more institutions and developers explore how to tokenize all sorts of things, from real estate and treasuries to fine art and private credit. The idea is simple: bring more of the real world into a format that can be used in digital systems. DISCOVER: 20+ Next Crypto to Explode in 2025 What’s Can We Expect? Solana’s tokenized stock market is still small compared to the actual exchanges, but the pace of growth shows there’s real interest. If rules around this kind of trading become clearer and more providers get on board, it could turn into a much bigger market. Right now, the tools are there, the demand is rising, and the pieces are falling into place. DISCOVER: 20+ Next Crypto to Explode in 2025  Join The 99Bitcoins News Discord Here For The Latest Market Updates

Solana is facing a critical test this week, consolidating in a tight range between $145 and $160 since Monday. The price action reflects strong buying interest but also hesitation as bulls struggle to reclaim higher levels. Despite holding above key support, Solana must break decisively above resistance to confirm a bullish breakout and continue its upward trend. Market momentum has favored bulls in recent weeks, but Solana’s inability to breach the $160 zone raises questions about the strength of this trend. Top analyst Carl Runefelt shared insights highlighting that Solana is currently ranging within a rising channel pattern—a structure that, while seemingly bullish, can often precede a breakdown to lower demand zones if support fails. This makes the coming days especially important for SOL’s trajectory. As macro conditions improve and Bitcoin flirts with new all-time highs, Solana is expected to respond in kind. However, technical signals suggest caution. A break below the rising channel could target the $128.50 support area, while a successful breakout above $160 could open the door to retesting local highs. Traders and investors alike are closely watching Solana’s next move in this high-stakes consolidation phase. Solana Holds Key Support Amid Rising Channel Formation Solana is currently trading below the $150 level, reflecting a notable 20% decline from its local high set in May. Despite this setback, the asset continues to hold a strong support base, signaling that bullish sentiment has not entirely faded. The broader market remains in a consolidation phase, with Solana showing signs of indecision as it moves sideways within a tightening price range. Analysts remain cautiously optimistic, pointing out that a breakout above the key $150–$160 supply zone could spark renewed upside momentum. However, the current price structure suggests that Solana may not be ready yet to retest previous highs. According to Carl Runefelt, Solana is ranging within a rising channel—a pattern that can lead to sharp movements if broken. While rising channels can sustain bullish continuation, a breakdown below the lower trendline often results in accelerated downside moves. Runefelt warns that if Solana breaks below the channel, the next key support area lies around $128.50. This level has historically acted as a strong demand zone and could serve as the next target in the event of a bearish move. In the meantime, Solana’s consolidation reflects broader market uncertainty, with traders waiting for a decisive breakout or breakdown to guide positioning. A successful reclaim of the $150 level would improve sentiment significantly and could set the stage for a push toward the $170–$180 range. On the other hand, failure to hold above current levels may shift the narrative toward further downside risk. SOL Holds Range Amid Resistance Solana (SOL) is currently trading at $147.62, moving sideways within a tightening range and forming a potential rising channel pattern. The daily chart reveals that SOL has been unable to break decisively above the $155–$160 resistance zone, while strong support remains near the $140 level. Price action shows repeated rejections near the 100-day moving average (blue line), which now acts as dynamic resistance around $155.60. The 200-day moving average (red) sits further above $165.54, marking a long-term resistance area. Volume remains relatively low compared to early June spikes, suggesting market participants are waiting for a clear breakout direction. A push above $160 would likely trigger bullish momentum, potentially opening the door toward the $170 level. However, the rising channel identified by analysts suggests a possible downside risk if the lower trendline fails. If Solana breaks below the $145 support and falls out of the channel, the next target would be the $128.50 area, which previously acted as a demand zone in mid-May. Until then, bulls must defend current levels and aim to reclaim the 100-day SMA to maintain the broader recovery structure. The coming sessions may offer clarity as consolidation nears its resolution. Featured image from Dall-E, chart from TradingView

DeFi Development Corp (DFDV) purchased 17,760 Solana (SOL) tokens for its cryptocurrency treasury, valued at approximately $2.72 million. DeFi Development has focused its attention on Solana due to its DeFi capabilities and ability to compete with similar tokens, such as Ethereum. DeFi Development now holds 640,585 SOL tokens, valued at approximately $98.1 million. The investment in SOL marks a stark contrast to other companies that mainly invest in Bitcoin. DeFi Development also has an interest in engaging with the Solana ecosystem to enhance its business operations. The latest purchase of 17,760 SOL had an average price of $153.10 per token. DeFi Development will store the tokens as validators for Solana, allowing the company to earn yields. They have even developed their validators to do the compounding independently.  Wu Blockchain, a crypto journalist, announced the news online, declaring that DeFi Development was continuing its Solana treasury strategy by purchasing 17,760 SOL tokens. Wu Blockchain also mentioned that DeFi Dev was being consistent with their focus on Solana. DeFi Dev aims to compound their treasury over time by reinvesting SOL tokens as validators for the Solana ecosystem. DeFi Dev is a Nasdaq-listed company that goes under the ticker DFDV. DeFi Dev was proud to announce the new milestone. They have an impressive SOL treasury of nearly $100 million, which may help them continue business operations even during difficult times.  A Solana-centric approach dominates the business model of DeFi Dev, with a treasury strategy combined with a staking approach to making profits. DeFi Dev has started its staking process for both internal and external clients. Staking is analogous to Bitcoin mining, as it is a method for generating revenue. The company has chosen Solana as its primary cryptocurrency due to its fast transaction speeds and DeFi capabilities. This is in contrast to Bitcoin’s problematic track record of scalability and limited abilities to program its blockchain. DeFi Dev, however, isn’t the only company investing in Solana. Sol Strategies, a Canadian firm, created a $1 billion prospectus to fund its Solana treasury and expand its validator activities. Solana has become a viable alternative to Ethereum, offering staking capabilities that make it an environmentally friendly option. Solana could also be used to expand services that tokenize real-world assets.  The sol-per-share ratio for DeFi Development is currently at 0.042, which translates to $6.65 per share. The metric could help compare various treasury companies to ascertain the relative strength of their treasuries. DeFi Dev has 14,740,779 shares outstanding according to their June 2024 filing. The Solana treasury has been carefully designed to be stored for an extended period, compounding interest through its yields. DeFi Dev has developed a business model based on the principles of compounding, while also offering validation services for the Solana network. DeFi Dev will keep shareholders and stakeholders informed of their treasury performance through regular filings and reports. DeFi Development Corp has become a Solana-centric company, employing various acquisition strategies to purchase more of its common stock and acquire Solana for validation purposes. Such an asset-centric strategy has yet to prove its worth over time. The company has also suggested that shareholders could further use derivatives to hedge their exposure to Solana and optimise their portfolio. DeFi Dev has experienced various setbacks, including a failed SEC filing for $1 billion in funds on June 11, due to a misfiled 10-K form. However, the company has addressed these problems and has continued its treasury strategy. Solana traders may welcome the news of a Solana-based strategy, as it could be added to their portfolio, or they could subscribe to the company’s annual reports.

Solana (SOL) is approaching a critical price level, and all eyes are on the $175 resistance zone. After trading sideways for much of Q2 2025, Solana’s recent price action and on-chain metrics suggest it could be nearing a pivotal breakout. But does the data support a push toward $300, or is the resistance too strong? Crypto analyst Ali Martinez highlighted on July 3 via X that if the market is gearing up for a second leg up, Solana could benefit significantly. The volume-weighted average price (VWAP) across this band reinforces its importance as a potential springboard for further growth. If SOL can breach the $175 mark, it may unlock a bullish leg upward. But Martinez warned that strong resistance remains just above. On-chain data from IntoTheBlock confirms that this resistance zone is loaded with investor activity. The platform shows significant “In/Out of the Money Around Price” clusters between $170 and $180. This means a large cohort of holders is either looking to break even or lock in profits, making it difficult for the path above $175 to gain new momentum. If SOL clears that wall, the next major cluster appears between $210 and $230, where more than 1.2 million addresses are positioned. According to CoinGlass, the open interest for Solana (SOL) perpetual futures has reached $985 million. This data indicates a significant level of investor interest and participation in the SOL derivatives market, specifically in perpetual futures contracts.  On the developer front, Solana continues to attract active builders. As reported by ZyCrypto, daily active developers on Solana averaged 180 in June 2025, placing it third behind Ethereum and Polygon. While this is down from its peak in late 2023, it still marks Solana as a robust Layer 1 network with consistent technical development. Despite positive fundamentals, macro uncertainty clouds the broader crypto market. The Federal Reserve’s decision in late June to hold interest rates unchanged, along with persistent inflation data, has kept risk appetite muted. Bitcoin and Ethereum have struggled to regain momentum, and SOL’s fate may depend on broader market sentiment as much as on its own metrics. Solana’s $175 resistance is more than a psychological level—it’s a volume-weighted wall reinforced by millions of tokens and thousands of wallets. Breaching it will likely require either a macro catalyst or renewed inflows into the network. Until then, $175 remains the gatekeeper. Whether it becomes a springboard to $300 or a ceiling for consolidation, the data suggests the next move could be decisive.

A closely followed crypto analyst is revealing bullish targets for Bitcoin (BTC) while updating his outlook on a handful of prominent altcoins. In a new strategy session, crypto trader Ali Martinez tells his 139,200 followers on the social media platform X that the top crypto asset by market cap looks poised to push to the $118,000 price level – a new all-time high – if it can finish with a daily close above $109,000. “Despite the broader quarterly outlook shared in this video, the daily chart for Bitcoin. BTC looks promising. A daily close above $109,000 could open the door to a rally toward $118,000!” Source: Ali Martinez/X BTC is trading for $109,644 at time of writing, a fractional increase on the day. Moving on to smart contract platform Ethereum (ETH), Martinez says he expects more choppiness until the top altcoin closes outside the $2,227-$3,385 range. “Heard a company added an inflationary asset like ETH to its balance sheet, and suddenly everyone’s bullish again. But let’s be real: I expect more chop until we get a sustained close outside the $2,227-$3,385 range.” Source: Ali Martinez/X ETH is valued at $2,579 at time of writing, a marginal increase on the day. Turning his attention toward the meme asset Dogecoin (DOGE), Martinez notes that the popular dog-themed token appears ready to ascend to $0.19, potentially up to $0.26, after bouncing off a low. “Dogecoin bounced from the lower boundary of this channel. Now targeting $0.19, with potential upside to the upper boundary near $0.26.” Source: Ali Martinez/X DOGE is trading for $0.17 at time of writing. Concluding his analysis with ETH competitor Solana (SOL), the trader says the smart contract platform looks poised to benefit if the crypto markets break out. Source: Ali Martinez/X SOL is trading for $151 at time of writing, a marginal decrease during the last 24 hours. Newsletter] &nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trader Unveils Bullish Targets on ‘Promising’ Bitcoin, Updates Outlook on Ethereum, Dogecoin and Solana appeared first on The Daily Hodl.

Grayscale’s proposal to convert its Digital Large Cap Fund (GDLC) into a spot ETF made headway this week after the U.S. Securities and Exchange Commission (SEC) on Tuesday gave the sign-off on an accelerated basis for the listing and trading of the fund on NYSE Arca. However, investors will have to wait longer as its debut has been temporarily delayed. SEC Hits Pause On GDLC Conversion To ETF The SEC put a pause on converting the Grayscale Digital Large Cap Fund LLC a day after agency staff approved the fund to start trading.  “This letter is to notify you that, pursuant to Rule 431 of the Commission’s Rules of Practice, 17 CFR 201.431, the Commission will review the delegated action,” the letter, addressed to the New York Stock Exchange, stated. “In accordance with Rule 431(e), the July 1, 2025 order is stayed until the Commission orders otherwise.” It can be found here on the SEC website. We have a few theories as to why this happened.

1. The SEC doesn't want to let anything to launch under the 19b-4 process until they officially approve or come up with some framework for digital assets in the ETF wrapper. pic.twitter.com/WegC5d2Tcj— James Seyffart (@JSeyff) July 2, 2025 Bitcoin comprises around 80% of the fund’s holdings. Roughly 11% of the ETF’s assets would be in Ethereum, while Solana accounts for approximately 2.8% of the fund, Ripple’s XRP commands over 4.8%, and Cardano (ADA) has a weighting of 0.8% in the fund. The SEC told NYSE that it would let it know “of any pertinent action taken by the Commission.” Bloomberg ETF analyst James Seyffart suggested the delay may be tied to the SEC’s ongoing efforts to create an internal framework for issuing crypto exchange-traded products. The SEC doesn’t want to let anything launch under the 19b-4 process until they officially approve or come up with some framework for digital assets in the ETF wrapper,” Seyffart noted. Bloomberg’s senior ETF analyst Eric Balchunas concurred with this observation. The plot thickens. Upper level of SEC telling $GDLC it can't launch until otherwise notified. Not sure why, no other info than this letter. My guess tho: They want to issue the crypto ETP listing standards before any '33 act spot ETFs hit market with these other coins. So likely… https://t.co/Za7rYk1o0E— Eric Balchunas (@EricBalchunas) July 2, 2025 While the SEC greenlighted Bitcoin and Ethereum spot ETFs, it has yet to give the nod to other altcoin spot products, including those tracking the price of Solana, XRP, and Cardano. The Bloomberg analysts are confident the regulator will approve such crypto products by year-end, though.

The newly launched REX-Osprey Solana + Staking ETF (SSK), the first crypto staking exchange-traded fund (ETF) listed in the U.S., clocked an impressive $33 million in trading volume on the inaugural day. This product has notably blown away XRP futures ETFs as well as the Solana futures ETF that were introduced earlier this year.  SOL Staking ETF Outperforms XRP And Solana Futures ETFs On Day 1 The first spot Solana staking ETF, which went live on Wednesday at market open, ended the day with $33 million in volume and $12 million in inflows, with Bloomberg ETF analyst Eric Balchunas describing the launch as better than the average ETF listing. The REX-Osprey Solana Staking ETF,  trading under the ticker SSK, offers investors direct exposure to spot Solana while earning staking yields without requiring technical expertise, making it the first crypto staking ETF to be approved in the US. While the volume was much lower than the launch of Bitcoin (BTC) and Ethereum (ETFs), Balchunas noted that the trading volume was much stronger than recent Solana futures ETF listings or the XRP futures ETFs debut. https://twitter.com/EricBalchunas/status/1940516260875514325 It was a “healthy start to trading,” noted Bloomberg ETF analyst James Seyffart, who observed that it had notched $8 million in trading volume in the first 20 minutes. The price of SOL was hovering at $155.80 as of publication time, a 4.3% increase on the day, according to data from CoinGecko. The token, however, remains 47% below its January 2025 all-time high price of $293.31. Although the U.S. Securities and Exchange Commission is expected to approve several crypto-focused ETFs this year, Wednesday’s debut represents “a defining moment for digital assets and a significant step forward in full access to the crypto ecosystem,” said Anchorage Digital co-founder Nathan McCauley, whose company is the staking and custodian partner for the REX-Osprey ETF. “Staking is the next chapter in the crypto ETF story. This launch marks a major step forward in giving institutions full access to the crypto ecosystem in a regulated package,” McCauley added. Meanwhile, Balchunas and Seyffary estimated a 95% chance that spot Solana ETFs will be approved for launch in 2025. “We expect a wave of new ETFs in this second half of 2025,” Seyffart said on July 1, forecasting that spot XRP, Solana, and Litecoin products would be approved by the Securities and Exchange Commission before the end of this year.

• With CCIP live on Solana, it opens up a whole new world of possibilities for both users and developers by offering secure and seamless cross-chain connections.
• It also means that DeFi communities and token projects built on EVM chains finally have a way to extend their reach into Solana.

• Solana’s staking-enabled ETF launch (SSK) provides the signals growing institutional demand and regulatory momentum.
• The market very clearly favors Solana’s staking model over XRP futures, shifting investor focus and capital inflows.