🚀 Solana ETF Wave Ignites Bullish Setup, Can $SOL End Its Multi-Week Downtrend?

$SOL is regaining momentum as new Solana ETFs reshape institutional access. Today, Fidelity’s FSOL ETF launched with a six-month fee waiver, while Canary Capital introduced SOLC, expanding the total count to five spot Solana ETFs.

This wave of launches reflects surging institutional appetite. FSOL’s 0.25% fee and staking cost absorption on the first $1B mirror the success of Bitwise’s BSOL, now managing $450M. Together, these ETFs offer structured exposure for both retail and professional investors, marking a new phase in Solana’s market maturity.

Technically, $SOL is building strength after rebounding from $129, now testing the upper boundary of its falling channel. Breaking above this roof could open upside targets at $170, then $200.

Indicators show controlled bullishness:
📊 RSI: 50 — balanced and strengthening
📈 Support: $138
📈 Resistance: $145 and $170.8

As the ETF landscape expands, Solana’s liquidity and legitimacy deepen. A clean breakout could transform today’s consolidation into a sustained uptrend.