REX Solana ETF Launch Spurs $152 Price Action, Bulls Eye $192

- REX Shares launches staked Solana ETF, offering SOL exposure and staking yield. - Solana faces key resistance amid bullish and bearish pressure following launch. 2025-07-02 On July 2, 2025, Cointelegraph reported that the launch of the first US-listed staked cryptocurrency ETF by REX Shares pushed Solana (SOL) into a critical resistance zone. This innovative financial product provides investors with exposure to Solana and generates staking rewards, signaling an increasing institutional appetite for blockchain-based assets. Furthermore, the ETF's debut is a landmark for the crypto industry, aiming to expand the tools for crypto-centric strategies in traditional markets. The launch spurred an immediate price surge for Solana, and the asset broke above key support levels. However, momentum has since stalled, making the $159 mark a critical resistance point. A decisive break above this level could confirm an inverse head-and-shoulders pattern and set a target of $192. Buyers remain active, defending the 20-day exponential moving average (EMA) at $148. Meanwhile, sustained movement above the 50-day simple moving average (SMA) at $156 could propel prices toward additional resistance levels at $168 and $185. On the other hand, bearish forces persist as sellers actively defend the 50-day SMA, which keeps the $140 support vulnerable. A breach of this level could drive SOL toward lows of $126 or $110. Shorter timeframes also illustrate bearish sentiment, with a close below $144 indicating increased selling pressure during minor rallies. Reinforcing this bearish outlook, Cointelegraph noted in its July 2 report that institutional interest was muted after the launch. This sentiment is further underscored by the relatively low assets under management in Grayscale’s Solana Trust and potential selling pressure from upcoming token unlocks. On July 2, data from CoinMarketCap showed that Solana (SOL) was trading at $151.995 as of 19:16 UTC. While this price marked a 3.637% increase over the last 24 hours, daily trading volume tapered by 1.127%, reflecting mixed market sentiment following the ETF’s introduction.