Ripple CEO Brad Garlinghouse has predicted the emergence of Solana ETFs, following the approval of Bitcoin and Ethereum ETFs by the SEC. At the Consensus 2024 event, Garlinghouse emphasized the importance of regulatory clarity for the growth of digital assets in the U.S. He expressed optimism about the crypto market potentially reaching a valuation of $5 trillion and believes that various crypto projects can coexist, each focusing on different aspects of decentralized finance and digital assets. The rise of ETFs could drive Solana’s price, with investors now speculating whether SOL could reach $1,000 this year.
Currently priced at $166.09, Solana is consolidating within a range on the 4-hour chart, forming a symmetrical triangle pattern between $168 and $163. Immediate resistance levels are $172.50, $176.00, and $180.50, while immediate support levels are $163.50, $160.50, and $156.80. The RSI is at 47, indicating a neutral trend, with the 50-day EMA at $167.61 acting as resistance. A breakout above $168 could push Solana towards $173 and $180, while a breakdown below $163 could lead to a decline towards $156 and possibly $150. Monitoring the $167.89 pivot point closely is crucial to identify potential bullish momentum or further declines.
In the long term, Solana’s price prediction remains bullish, as the market anticipates the introduction of SOL ETFs. With regulatory clarity and increasing institutional interest, Solana could see significant gains and potentially reach $1,000 by the end of next year. Traders seeking quick gains may consider alternative meme tokens, such as PlayDoge (PLAY), an Ethereum-based cryptocurrency that recently opened its presale and raised $0.93 million. PlayDoge features a Doge-themed Tamagotchi-style game with crypto-enabled play-to-earn mechanics, where players can breed, trade, and take virtual Shiba Inu dogs on missions to earn PLAY tokens. The presale price is $0.00501 per token, with more game details set to emerge, and early investment may lead to significant gains once the game launches and lists on exchanges.
Overall, the prediction of a $5 trillion crypto market and the potential introduction of Solana ETFs have generated significant interest in Solana’s price prediction. Brad Garlinghouse’s optimism about regulatory clarity for digital assets in the U.S. and the rise of ETFs could drive Solana’s price higher, with investors speculating on the possibility of SOL reaching $1,000 this year. Traders looking for quick gains may also consider alternative meme tokens like PlayDoge, which offers a unique gaming experience with crypto-enabled play-to-earn mechanics and the potential for significant gains through early investment in the presale.
