On July 9, 2025, Solana (SOL) remains a standout in the cryptocurrency market, drawing significant attention from investors. According to recent data, Solana is trading at approximately $151.44, with a marginal change of about 0.12% over the past 24 hours. This relative stability indicates a consolidation phase, prompting analysts to closely examine short- and mid-term trends. Technical analysis reveals Solana forming a symmetrical triangle pattern on the daily timeframe, characterized by higher lows from 142 and lower highs from 157. Key support lies at 142, with secondary support at 125, while primary resistance is between 154 and 160. The RSI stands at around 48, signaling a balanced market, but signs of a bullish crossover in the 9- and 21-day moving averages bolster the case for a price increase. A break above the 154 resistance could drive Solana toward 170–$195. Fundamentally, Solana is supported by several positive developments. The launch of a Solana staking ETF in early July 2025, with trading volume exceeding 33 million on its first day, reflects strong institutional interest. This fund enables traditional investors to earn staking rewards, creating new demand. Additionally, a DeFi development company’s purchase of 47,272 SOL tokens worth approximately 7.03 million underscores growing confidence in the network. The Total Value Locked (TVL) in Solana’s decentralized applications has risen from 6 billion in April to 8.61 billion, signaling broader adoption in DeFi and NFTs. However, risks persist. Delays in SEC approval for additional Solana ETFs until the end of July could heighten short-term volatility. Additionally, Solana’s correlation with Bitcoin (around 0.7) suggests that a broader market downturn could impact SOL’s price. For traders, the optimal strategy is to wait for confirmation of a breakout above 154 or a pullback to 142 support. Long-term investors can capitalize on factors like Solana’s ecosystem growth and increasing adoption in decentralized applications. Overall, Solana exhibits strong mid-term growth potential based on technical and fundamental factors, particularly if it can break key resistance levels.